MIDiA Research 2021 – 2028 global music forecasts ARPU growth finally delivers

This report presents the key figures, trends and drivers of MIDiA’s music forecast model. The figures presented in this report are both retail and label trade values and are in billions of US dollars unless otherwise stated. An Excel file posted alongside this report provides complete country level data, including DSP market shares and a detailed methodology statement.

Key definitions

• Retail values: Total revenues generated, including retailer margin and music publishing related collections. For ad supported, revenues are gross values and refer to total revenue generated by ad sales, including retailer margin, agency fees etc.
• Trade values: Refer to revenue earned for master recordings, which predominately means record labels but also includes other non-label entities such as artists direct i.e. self-released artists

MIDiA’s label trade figures differ from the IFPI’s figures, due to MIDiA capturing additional independent artist and independent label revenue that the IFPI does not, as well as the master recording side of music production libraries.

A detailed methodology description is included in the Excel file published with this report. Additionally, a number of methodology slides are included towards the end of this report.