Traditional Music - South Korea

  • South Korea
  • Revenue in the Traditional Music market is projected to reach €542.50m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.43%, resulting in a projected market volume of €554.30m by 2029.
  • In the Traditional Music market, the number of listeners is expected to amount to 13.6m users by 2029.
  • User penetration will be 25.4% in 2024 and is expected to hit 26.4% by 2029.
  • With a rate of 48.4%, the user penetration in the Traditional Music market is highest in Luxembourg.
  • The average revenue per user (ARPU) is expected to amount to €47.96.
  • In global comparison, most revenue will be generated in the United States (€13,730.00m in 2024).

Key regions: China, Japan, Asia, United Kingdom, India

 
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Comparación de regiones
 
Moneda
 

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Music, Radio & Podcasts market, which comprises all revenues generated by traditional and digital radio advertising, consumer purchases of live music event tickets, all sales of tangible audio recording formats, paid digital downloads of professionally produced single tracks / compilations, ad-supported services, and subscription-based, on-demand streaming services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

Visión general

  • Revenue
  • Users
  • Media Usage
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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