Music recording or audio recording involves capturing audio signals onto storage devices either analog or digital. The music recording industry comprises of establishments primarily engaged in producing and distributing musical recordings, in publishing music, or in providing sound recordings and related services.
The music recording market has shown growth in the past years with a CAGR of over 5.1%, although the year 2017 recorded a decline in this market with a net value of $54 billion, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global music recording market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
Wearable technology such as gloves and jackets are being used by artists during live performances. Wearable technologies are accessories such as clothing, headgear and gloves etc. These devices are self-equipped to connect with machines without human intervention. Devices such as Sound Brenner Pulse help performers stick to a rhythm. This is also equipped with exercises to enhance artists’ rhythm, speed, accuracy and endurance. Other technology variants such as Drumpants, MI.MU are also widely used in the music recording industry.
Companies included in the report are Universal Music Group, Sony Music, and Warner Music.
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