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Music

What is the music industry?

The music industry is a time-honoured sector focused on music. It includes composing, writing, recording, creating, distributing, and selling music. It also incorporates the organisations and specialists associated with this process. Likewise, it consists of supporting, training, representing and supplying music creators. Additionally, it includes music label production, publishing, and sound engineering. Also, it encompasses retail, promotion, venue organisation and talent scouting. It results in an industry that spans hundreds of companies.

Is the sector extensive?

Professionals often consider the sector part of the entertainment, leisure, and hobby industries. The reason for this is the popularity of music in entertaining and spending leisure time. It is also a segment with links to various sectors. For example, it has links to the electronics, miscellaneous and education segments. It also has links to publishing, broadcasting, the electrical industry and engineering. As a result, the sector employs over 85,800 professionals.

Is the sector highly valued and innovative?

It is a high-value sector. For example, it has recently reached a market size of $33.32 billion. The industry frequently implements innovations and presents new wares. This assists it in retaining its competitive position. These are generally displayed during trade expos that occur once every two years. This ensures that the sector remains up-to-date on the latest trends. The industry's events often attract tens of thousands of participants.