Reports Music

Music creator tools forecast Moving towards a hybrid future

Mark Mulligan
Cover image for Music creator tools forecast
Report Synopsis Presentation Spreadsheet

Get full access to this report and assets

Already a MIDiA client? Login here to view this report.

If you are interested this report, or related reports such as "Creator Tools The Music Industry’s New Top of Funnel", "Creator culture The song becomes the feed" and "Addressable creator markets An opportunity with many layers" get in touch today to enquire about a report bundle.

The 20,000 Foot View:  Once upon a time, music software and hardware were distinct market segments, but now they are increasingly fusing into a network of hybrid creator tools ecosystems. Standalone hardware still has a vibrant future, but the real momentum lies with software, sounds, services and the hardware that supports them.

Key Insights

  • The music            tools landscape maps to six            instruments; production, software and sounds;            label services; distribution; audience
  • The key            drivers are: the creator renaissance;            potential; the computer music boom.            inhibitors are: complexity; streaming economics;            clutter
  • Music software,            and hardware sales grew by            2020, to reach            billion
  • Hardware accounted            the vast majority            of revenues            2020, but software, sounds and            grew faster            compared to           
  • Total revenues            grow by            by 2028, reaching            with software, sounds and services            fastest            compared to            for hardware)
  • The market            music production software, sounds and            was worth            billion in 2020,            plugins + VSTs being the            single segment, representing           
  • Sounds revenue            worth            million in 2020 –                       growth from 2019 is second            to services. Revenues will more            double to            million by 2028  
  • The music            sounds and services sector will            majority subscription by 2026, and                       of the total by 2028 
  • The combined            making hardware segment grew by            2020 to reach            billion, following            decline of            in 2019
  • Music production            was worth            billion in 2020,            by            from 2019, and will            by            by 2028 to reach           
  • Synthesisers sales            go from            million in 2020                       million in 2028, an increase                      

Companies and brands mentioned in this report: Algonaut, Apple, Arcade, Arturia, Atlas, Auxy, Avid, AWAL, Bandcamp, BandLab, Battery, Beatport, Discord, Elektron, Endless, Etsy, Garageband, Kobalt, Landr, Loopcloud, Native Instruments, Music Maker JAM, Netflix, Output, Reddit, Reverb, Roland, Sony Music, Soundbetter, Soundcloud, Soundstorming, Soundtrap, Splice, Spotify, Teenage Engineering, TikTok, Voisey, YouTube, Zenbeats