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Musical Groups & Artists in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Musical Groups & Artists Market Research Report | NAICS 71113 | Nov 2016

Out of tune: Revenue is projected to fall as artists struggle to adapt to the digitally centered industry landscape

The Musical Groups & Artists market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 11-16
-1.0%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
75,921
Businesses
44,645
Industry Threats & Opportunities
  • Online platforms and tools will continue to reduce the industry’s operating costs
  • Falling revenue has not deterred new musicians from joining the industry
  • Physical album sales will continue to drop but digital sales growth will pick up the slack
  • ... purchase to read more

Industry Analysis & Industry Trends

With the emergence of mp3 players, music piracy, internet radio and online streaming, the Musical Groups and Artists industry has been subject to a series of massive shakeups over the past decade. The steady replacement of physical albums for digital songs has slashed revenue from recordings, largely due to digital music selling at a lower price point. The industry has adapted to the digital environment by placing increased focus on live performance, which requires self-promotion and a business model focused on performance income rather than royalty and recording income. Over the five years to 2021, rising incomes will raise consumers' ability to pay for songs, albums and concert tickets... ... purchase to read more

Industry Report - Industry Investment Chapter

The Musical Groups and Artists industry has a low level of capital intensity. For every $1.00 spent on labor, the average industry operator typically spends $0.06 on capital investment. Musicians require little capital investment to perform. Capital investment is generally limited to equipment such as instruments, microphones, speakers and amps. Musicians also often employ audio visual technology to heighten the impact of musical performances. Increasingly, musicians are using computer technology to produce sounds (particularly in dance music). Musicians also rarely require physical space or established premises. Larger organizations, such as orchestras, rent premises, or are hosted by public bodies.

Over the past five years, capital intensity has changed only marginally. A c.. ... purchase to read more

Additional Insights for the Musical Groups & Artists Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Musical Groups & Artists Industry are

  • Protection of intellectual property/copyrighting of output
  • Ability to quickly adopt new technology
  • Product is sold at high profile outlets
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Album sales in the Musical Groups & Artists industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Musical Groups & Artists Industry?

    This industry is comprised of musicians, recording artists and songwriters that produce music professionally, either in front of a live audience, in a recording studio or both. Musicians in this industry may earn revenue from songwriting, producing or recording, but they primarily operate as performers. This industry excludes musical theater and opera and other professions involved in the creation of records, such as engineers.

    Industry Products
    Live performanceSession performanceSalaried and contract incomeRecording (label advances and album sales)RoyaltiesMerchandise
     
    Industry Activities
    Rock, dance, country and pop bands writing, recording or performingIndependent musicians or vocalists writing, recording or performingJazz artists and groups writing, recording or performingChoirs writing, recording or performingMusical groups (except theatrical musical groups) writing, recording or performingChamber musical groups and orchestras writing, recording or performingSymphony orchestras writing, recording or performingClassical musical groups writing, recording or performing


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Album sales
  • Percentage of services conducted online
  • Demand from music publishing
  • Federal funding for creative arts
  • Current Performance
  • Volumes fall and rise
  • Upsetting old models
  • Ownership versus access
  • Chart: Revenue Growth
  • Industry Outlook
  • Upbeat market
  • The internet’s pros and cons
  • Table: Musical Groups & Artists Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Musical Groups & Artists Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Music Publishing
  • Casino Hotels
  • Bars & Nightclubs
  • Consumers
  • Key Selling Industries
  • Audio Production Studios
  • Colleges & Universities
  • Concert & Event Promotion
  • Major Label Music Production
  • Music Publishing
  • Musical Instrument & Supplies Stores
  • Products & Services
  • Live performance
  • Salaried and contract income
  • Session performance
  • Other
  • Recording (label advances and album sales)
  • Royalties
  • Merchandise
  • Chart: Musical Groups & Artists Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • People aged 35 to 44
  • People aged 45 to 54
  • People aged 25 to 34
  • People aged 55 to 64
  • People aged 24 and younger
  • People aged 65 and older
  • Chart: Major Market Segmentation for the Musical Groups & Artists Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Marketing
  • Rent and utilities
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Musical Groups & Artists
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Musical Groups & Artists Industry
  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Musical Groups & Artists Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Musical Groups & Artists Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Album sales (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    Crowdfunding
  • An online tool such as Kickstarter that allows individuals to donate to companies or creative artists in small amounts.
  • Digital Download
  • Audio or visual media that is downloaded from the internet to a computing device, as opposed to being purchased in physical form at a traditional retail outlet.
  • Freelance
  • An artist who has no employer but sells his or her talents to a patron who requires the services.
  • Intellectual Property
  • A creation of the mind, such as literary, musical and artistic works, that is often copyrighted.
  • Music Festival
  • A large, often multiday, multistage concert where musicians, promoters and organizers can exploit economies of scale while attracting large crowds with the lineups and carnival-like atmosphere.
  • Performance Right Organization (Pro)
  • An organization that manages an artist's income in the form of royalties from songs played in third-party media, such as internet radio or in a commercial.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Musical Groups & Artists:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Musical Groups & Artists market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Musical Groups & Artists, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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