Music - Brazil

Brazil

In 2022, the Music market in Brazil is projected to reach a total revenue of €176.50m.
This represents a significant growth potential for the country's music industry.
Looking ahead, the market is expected to exhibit a steady annual growth rate of 9.13% (CAGR 2022-2027), resulting in a projected market volume of €274.10m by 2027.
Within the Music market, revenue from in-app purchases (IAP) is expected to reach €31.64m in 2022.
This highlights the increasing popularity of digital music consumption and the willingness of consumers to make in-app purchases to enhance their music experience.
Paid app revenue in the Music market is projected to reach €0.66m in 2022.
This indicates that there is still a demand for paid music apps, despite the growing availability of free streaming platforms.
Advertising revenue in the Music market is also expected to grow, reaching €144.20m in 2022.
This suggests that advertisers recognize the value of reaching music enthusiasts through targeted advertising campaigns.
The number of music app downloads is projected to reach 0.44bn downloads in 2022.
This emphasizes the strong demand for music apps among consumers in Brazil.
Furthermore, the average revenue per download is expected to be €0.40, indicating that each download contributes to the overall revenue generated in the market.
In a global comparison, it is noteworthy that in the United States generates the highest revenue in the Music market, projected to reach €4,252.00m in 2022.
This showcases the dominance of the US market in the music industry on a global scale.
Overall, the Music market in Brazil shows promising growth potential, with revenue projections indicating a positive trajectory.
The increasing adoption of digital music consumption, coupled with advertisers recognizing the value of the market, contributes to the overall growth of the industry.

Key regions: Asia, Europe, United States, India, South Korea

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.