UK Music Market

UK Music Market Overview:

The UK music market size reached USD 7.26 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 15.17 Billion by 2033, exhibiting a growth rate (CAGR) of 8.54% during 2025-2033. The rise in digital streaming platforms, growing consumer demand for diverse genres, increased investment in live music events, ongoing advancements in music technology, and a robust local music industry promoting emerging talent and international collaborations are some of the key factors strengthening the market growth.

UK Music Market Trends:

Digital streaming dominance

The dynamics of the UK music market have been greatly influenced by the emergence of digital streaming platforms as a mainstay. The rise of services like Spotify, Apple Music, and Amazon Music has transformed how consumers access and engage with music. These platforms offer vast libraries of songs and curated playlists, catering to diverse musical tastes and enabling users to discover new artists effortlessly. Moreover, streaming services also leverage data analytics to personalize recommendations, enhancing user experience and driving higher engagement. The subscription-based model, along with ad-supported tiers, provides multiple revenue streams for both platforms and artists. These streaming channels reduce the reliance on physical sales and digital downloads, reshaping revenue distribution in the industry and contributing to the market expansion.

Growth of live music and festivals

Through the post-pandemic surge in consumer interest and the growing appeal of experiential events, the live music and festival industry in the United Kingdom has experienced significant growth. The demand for live performances spans a range of genres and scales, from large-scale festivals to intimate venue shows, reflecting a diverse music culture. International music festivals and concerts draw significant crowds, contributing to the market’s expansion. This trend is supported by rising consumer spending on experiences rather than goods, with live music offering a unique, immersive engagement that streaming alone cannot provide. Additionally, the integration of technology in live performances, including advanced sound systems, interactive elements, and virtual reality (VR) experiences, enhances the appeal of live events, thereby bolstering the market growth.

Emergence of new music technologies

Ongoing advancements in music technology are driving innovation and growth in the UK music market. Emerging technologies such as artificial intelligence (AI) and virtual reality (VR) are revolutionizing music production, distribution, and consumption. AI-powered tools assist artists in creating new music, optimizing sound quality, and predicting trends based on listener behavior. VR technology enables immersive concert experiences and virtual reality music videos, offering fans novel ways to engage with their favorite artists. Furthermore, the adoption of blockchain technology to simplify copyright administration and guarantee artists receive just compensation is also fostering market expansion. The expanding use of high-resolution audio formats and smart home devices further enhances the listening experience, catering to audiophiles and casual listeners alike, supporting the market growth.

UK Music Market News:

• In September 2024, Global announced the launch of 12 new radio stations, expanding its top UK music brands. This expansion follows the success of brand extensions like Heart Dance and Capital Dance. With UK radio listening growing, driven by DAB and smart speakers, 50 million people tune in weekly, and smart speaker listening has surged 18% year-on-year, now accounting for 17% of total radio listening.

UK Music Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type.

Type Insights:

• Recorded Music
• Streaming
• Music Publishing
• Others 
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes recorded music, streaming, music publishing, and others.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Music Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK music market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK music market?
• What is the breakup of the UK music market on the basis of type?
• What are the various stages in the value chain of the UK music market? 
• What are the key driving factors and challenges in the UK music?
• What is the structure of the UK music market and who are the key players?
• What is the degree of competition in the UK music market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK music market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK music market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK music industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.