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Musical Groups & Artists in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 01, 2024
Length 73 Pages
SKU # IBSS20489963

Description

Musical Groups & Artists in the US - Industry Market Research Report


Musical Groups & Artists in the US

Musical groups and artists have struggled in the last few years, as a decline in revenue was exacerbated by the outbreak of COVID-19. The pandemic strongly affected the industry and its ability to generate revenue from performances during this time. A sharp decline of revenue in 2020 occurred as attendance at large events became a health risk. The pandemic led many states to prohibit large gatherings like concerts, but the introduction of the vaccine in 2021 allowed for artists to resume performing live. Revenue generated from live events recovered significantly in 2021, but revenue continue to grow through the 2023. Overall, revenue declined at a CAGR of 2.8% to $7.1 billion over the years to 2023, including an anticipated increase of 0.9% in 2023

This industry is composed of musicians, recording artists and songwriters that produce music professionally, either in front of a live audience, in a recording studio or both. Musicians in this industry may earn revenue from songwriting, producing or recording, but they primarily operate as performers. This industry excludes musical theater, opera and other professions involved in the creation of records, such as engineers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."

Table of Contents

73 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

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