New York, March 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Music Recording Global Market Report 2022” – https://www.reportlinker.com/p06243801/?utm_source=GNW
The global music recording market is expected to grow from $47.40 billion in 2021 to $51.71 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $70.61 billion in 2026 with a CAGR of 8.1%.
The music recording market includes revenue from the production and distribution of music recordings, music publishing, or the provision of sound recordings and related services earned by entities (organizations, independent traders and partnerships) that are part of the music recording industry.
The main types of music recording are record production, music publishers, record distribution, and sound recording studios. A music publisher is a kind of publishing company that focuses on music distribution.
The different genres include rock, hip hop, pop, jazz, others and are used in several applications such as mechanical, performance, synchronization, digital, others. the various end users include individuals and businesses.
Asia-Pacific was the largest region in the music recording market in 2021. Western Europe is expected to be the fastest growing region during the forecast period. . Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Access to music on mobile platforms has increased significantly in recent years and this trend is expected to continue over the forecast period, thereby driving the music recordings market. This is mainly due to the increase in internet penetration and the growth of smartphones and tablets, especially in emerging countries.
In 2019, 72% of mobile traffic is expected to be video content. Thus, an increase in the demand for music content through mobile platforms is expected to have a positive effect on the market during the forecast period.
The coronavirus disease (COVID-19) outbreak acted as a significant drag on some of the music recording markets in 2020 as businesses were disrupted due to government lockdowns around the world.COVID 19 is an infectious disease with flu-like symptoms, including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. taken by national governments to contain transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of “lockdown”.
The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, many media markets have not been affected or have benefited as they transmit their content remotely through digital channels .
The music recording market is expected to recover from the shock during the forecast period as it is a “black swan event” and not related to any persistent or fundamental weaknesses in the market or the global economy.
Many music recording companies offer auto-tune applications to allow singers to exaggerate vocals and create a new sound of perfect pitch. Auto-Tune is audio processing software used to measure and modify the pitch of recordings and performances of vocal and instrumental music.
It is used to correct small inaccuracies when singers sing out of tune and to retain the emotional content of the performance. For example, the main music recording studios offering automatic tuning software are Abbey Road Studios, London and Capitol Studios, Los Angeles to tune vocal recordings, add special effects and natural sound allowing the singer to have a its perfect.
The countries covered in the Music Recording market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria , Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06243801/?utm_source=GNW
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