Julia Stoll
Research expert covering TV and video media
Digital music market in selected countries in Europe - statistics & facts
Music streaming is the leading force within the audio market, but who is dominating the market in Europe?
With quite a few of the most famous artists of all time originating from the United Kingdom, such as the Beatles, the Rolling Stones, or Queen to name just a few, it is no surprise that the rich musical scene in Britain is also reflected in it being the biggest market for music in Europe. This is especially true for digital music. The digital music revenue in the UK reached 1.27 billion U.S. dollars in 2022, with Germany following in second place with a revenue of 875 million U.S. dollars. While streaming is already the most popular form music consumption, the penetration rate is set to rise even further. After a slight dip in 2022 to 15.6 percent, the rate is predicted to increase to 16.7 in 2023 and even further in the following years. But as digital music seems unstoppable, what is happening to physical music formats?
