Research firm PricewaterhouseCoopers has recently updated its Global Entertainment & Media Outlook report, which makes all manner of predictions for the next five years. Among them the growth in sales of tickets for live-music events. The prediction is that global ticket sales will grow from just over $22bn in 2019 to more than $25bn in 2023. Live-music sponsorship is tipped to grow from $5.91bn to $6.46bn over the same period, meaning a live-music market worth $31.49bn in 2023. The report also includes some very-big numbers for the combined ‘music, radio and podcasts’ industry over this period, predicting growth from $103.53bn in 2019 to $116.62bn in 2023. As a guide to how much of this is ‘music’ as opposed to radio or podcasts, in 2018 the global recorded-music market (as measured by the IFPI) was $19.1bn, which represented just over 19% of the $99.63bn total PwC estimated as the music, radio and podcasts market that year.

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Music Ally's Head of Insight

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