New York, January 28, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Music Recording Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/ p06009786 /? utm_source = GNW
05 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 74.11 billion in 2025 at a CAGR of 7%.
The music recording market includes revenues from the production and distribution of music recordings, music publishing or the supply of sound recordings and related services collected by entities (organizations, sole proprietorships and partnerships) that are in the music recording industry. The music recording market is segmented into record production; music publishers; record distribution and sound recording studios.
Asia-Pacific was the largest region in the global music recording market, accounting for 34% of the market in 2020. North America was the second-largest region accounting for 32% of the global music recording market . Africa was the smallest region in the world music recording market.
Many record companies offer auto-tuning apps to allow singers to exaggerate vocals and create perfect new sound. Auto-Tune is audio processing software used to measure and modify the pitch of vocal and instrumental music recordings and performances. 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 auto tuning software are Abbey Road Studios in London and Capitol Studios in Los Angeles to tune vocal recordings, add special effects and natural sound allowing the singer to have a its perfect.
Coronavirus pandemic – The coronavirus disease (COVID-19) outbreak has acted as a significant strain on some of the music recording markets in 2020 as businesses have been disrupted due to lockdowns imposed by governments around the world whole. 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 in Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in a decline in economic activity and a restricted flow of goods and services, with countries entering a state of “lockdown”. The outbreak is expected to continue to negatively impact businesses throughout 2020 and into 2021. However, many media markets have not been affected or have benefited as they transmit their content remotely. via digital channels. The music recording market is expected to recover from the shock during the forecast period as this is a ‘black swan’ event and not related to any persistent or fundamental weaknesses in the market. global market or economy.
Rise in mobile and tablet platforms – Access to music on mobile platforms has increased significantly in recent years and this trend is expected to continue during the forecast period, driving the market for music recordings as well. This is mainly due to the increase in internet penetration and the growth of smartphones and tablets, especially in emerging countries. By the end of 2019, 72% of mobile traffic is expected to be video content. Thus, increasing demand for music content through mobile platforms is expected to have a positive effect on the market during the forecast period.
Read the full report: https://www.reportlinker.com/p06009786/?utm_source=GNW
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