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Musical Groups & Artists in the US - Market Research Report (2015-2030)

Michal Dalal Michal Dalal New York, United States Last Updated: July 2025 NAICS 71113

Revenue

$7.4bn

2025

$8.1bn

Past 5-Year Growth

Profit

$XXX.Xm

Employees

39,658

Businesses

5,603

Wages

$X.Xbn

Musical Groups & Artists in the US industry analysis

The music industry has undergone a profound transformation in recent years, with musical groups and artists navigating digital innovation and a resurgence of live performances. Streaming is now the default mode of music consumption, pushing artists to rethink how they release, promote and profit from their work. At the same time, touring and live performances have re-emerged as the most important moneymaker for many acts, with in-person concerts at the center of fan engagement and rising profit. But while opportunities for exposure have expanded, the pressures of a crowded digital marketplace and rising costs have made it increasingly tough for smaller or independent artists to break out or sustain themselves. Revenue expanded at a CAGR of 8.9% to $8.1 billion over the years to 2025, including a jump of 2.0% that year.

Trends and Insights

  • Live performances are more crucial than ever for artists’ earnings, fueled by soaring ticket prices and strong consumer interest. Big tours by stars like Taylor Swift are breaking revenue records, but high costs and dynamic pricing make it harder for fans to attend.
  • Musicians earn revenue through a wide variety of channels. These include income from touring and performances, songwriting and performance royalties, album sales, label advances, commissions and salaries from being a part of a musician's group.
  • Music groups and artists are highly concentrated in urban areas with a history of supporting the arts. Cities like Los Angeles, New York City and Nashville fit the bill and are home to many talented artists.
  • There's no dominant player in the music scene. Even top-earning musicians only snag a tiny slice of the overall revenue, making this an industry with a surprisingly low market share concentration.
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How you can access insights on the Musical Groups & Artists in the US industry

The Musical Groups & Artists in the US Industry Report is available in multiple formats to fit seamlessly into your workflow.

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Competitors

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Industry Statistics and Trends

Market size and recent performance (2015-2030)

Industry revenue has declined at a CAGR of 1.0 % over the past five years, to reach an estimated $7.4bn in 2025.

Trends and Insights

High demand and booming ticket prices boost profits from live performances

  • Revenue from live performances has surged in recent years, driven by booming concert demand, dynamic pricing and ticket reselling practices. As reported by the Bureau of Labor Statistics, spending on admissions to entertainment events, including concerts, rose by roughly 20.0% between 2021 and 2023, underscoring the ongoing rise in costs for live experiences.
  • Additional trends and insights available with purchase
Musical Groups & Artists in the US
Revenue (2015-2030)
IBISWorld Logo Source: IBISWorld

Industry outlook (2025-2030)

Market size is projected to grow over the next five years.

Trends and Insights

Tariffs and supply chain pressures will raise costs and challenge artists

  • Tariffs on imported musical equipment and instruments will place upward pressure on input costs throughout the music industry. Musicians depend on a range of imported products, including instruments, microphones and sound equipment, which will become more expensive as tariffs make their way through the supply chain.

Biggest companies in the Musical Groups & Artists in the US

Company
Market Share (%)
2023
Revenue ($short_0)
2023
Profit ($short_0)
2023
Profit Margin (%)
2023

There are no companies that hold a large enough market share in the Musical Groups & Artists in the US industry for IBISWorld to include in this product.

Products & Services Segmentation

Musical Groups & Artists in the US
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Live performance, Recording and royalties and Salaried and contract income. Live performance is the largest segment of the Musical Groups & Artists in the US.

Trends and Insights

Live performances remain the largest driver of artists’ revenue

  • Live performance refers to concerts, festivals and in-person appearances where musical groups and artists perform music for paying audiences. High attendance at concerts and live shows has been driven by consumers growing interest in unique, in-person experiences that can't be replicated digitally.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

Musicians, recording artists and songwriters create and perform music professionally, both in front of live audiences and in recording studios. Musicians earn revenue from songwriting, producing or recording, but they primarily operate as performers. This industry excludes musical theater and opera performers, as well as other professions involved in creating records, like sound engineers.

What's included in this industry?

Products and services covered in the Musical Groups & Artists industry in the United States include Rock, dance, country and pop bands writing, recording or performing, Independent musicians or vocalists writing, recording or performing, Jazz artists and groups writing, recording or performing, Choirs writing, recording or performing, Musical groups (except theatrical musical groups) writing, recording or performing, Chamber musical groups and orchestras writing, recording or performing, Symphony orchestras writing, recording or performing and Classical musical groups writing, recording or performing.

Companies

Companies covered in the Musical Groups & Artists industry in the United States include .

Purchase this report to view all major companies in this industry.

Related Terms

Related terms covered in the Musical Groups & Artists industry in the United States include freelance, digital download, intellectual property, music festival, performance right organization (pro) and crowdfunding.

Industry Code

NAICS 2017

NAICS 711110 - Musical Groups & Artists in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Live performances are more crucial than ever for artists’ earnings, fueled by soaring ticket prices and strong consumer interest. Big tours by stars like Taylor Swift are bre...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2015-2024) and forecast (2025-2030)
  • Employees, including historical (2015-2024) and forecast (2025-2030)
  • Businesses, including historical (2015-2024) and forecast (2025-2030)
  • Profit, including historical (2015-2025)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Musicians earn revenue through a wide variety of channels. These include income from touring and performances, songwriting and performance royalties, album sales, label advan...

In this chapter

  • Products & Services
  • Major Markets

Key metrics

  • Largest market segment and value in 2025
  • Product innovation level

Charts

  • Products & services segmentation in 2025
  • Major market segmentation in 2025

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

Music groups and artists are highly concentrated in urban areas with a history of supporting the arts. Cities like Los Angeles, New York City and Nashville fit the bill and a...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2025

Tables

  • Number and share of establishments in each state in 2025
  • Number and share of revenue each state accounts for in 2025
  • Number and share of wages each state accounts for in 2025
  • Number and share of employees in each state in 2025

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

There's no dominant player in the music scene. Even top-earning musicians only snag a tiny slice of the overall revenue, making this an industry with a surprisingly low marke...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2020-2025
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

There are no major companies dominating the industry. Even though there are individual artists or groups that can make millions of dollars annually, none individually hold a ...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2021 through 2025
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2025

Detailed analysis

    External Environment

    Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

    Analyst insights

    Musical groups and artists operate under many government policies regarding intellectual property rights and piracy protection. There are legal rules regarding royalty rates ...

    In this chapter

    • External Drivers
    • Regulation & Policy
    • Assistance

    Key metrics

    • Regulation & policy level and trend
    • Assistance level and trend

    Charts

    • Regulation & Policy historical data and forecast (2015-2030) 
    • Assistance historical data and forecast (2015-2030) 

    Detailed analysis

    • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
    • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
    • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

    Financial Benchmarks

    View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

    Analyst insights

    Touring costs have gone up significantly lately. Prices for accommodations, meals and travel soared in the last few years, making it tough for new artists to break even on to...

    In this chapter

    • Cost Structure
    • Financial Ratios
    • Key Ratios

    Key metrics

    • Profit margin, and how it compares to the sector-wide margin
    • Average wages, and how it compares to the sector-wide average wage
    • Largest cost component as a percentage of revenue
    • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

    Charts

    • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
    • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
    • Investment vs. share of economy

    Data tables

    • Industry Multiples (2018-2023)
    • Industry Tax Structure (2018-2023)
    • Income Statement (2018-2023)
    • Balance Sheet (2018-2023)
    • Liquidity Ratios (2018-2023)
    • Coverage Ratios (2018-2023)
    • Leverage Ratios  (2018-2023)
    • Operating Ratios (2018-2023)
    • Cash Flow & Debt Service Ratios (2015-2030)
    • Revenue per Employee (2015-2030)
    • Revenue per Enterprise (2015-2030)
    • Employees per Establishment (2015-2030)
    • Employees per Enterprise (2015-2030)
    • Average Wage (2015-2030)
    • Wages/Revenue (2015-2030)
    • Establishments per Enterprise (2015-2030)
    • IVA/Revenue (2015-2030)
    • Imports/Demand (2015-2030)
    • Exports/Revenue (2015-2030)

    Detailed analysis

    • Trends in the cost component for industry operators and their impact on industry costs and profitability 

    Key Statistics

    Industry Data

    Data Tables

    Including values and annual change:

    • Revenue (2015-2030)
    • IVA (2015-2030)
    • Establishments (2015-2030)
    • Enterprises (2015-2030)
    • Employment (2015-2030)
    • Exports (2015-2030)
    • Imports (2015-2030)
    • Wages (2015-2030)

    Top Questions Answered

    Unlock comprehensive answers and precise data upon purchase. View purchase options.

    What is the market size of the Musical Groups & Artists industry in the United States in 2025?

    The market size of the Musical Groups & Artists industry in the United States is $7.4bn in 2025.

    How many businesses are there in the Musical Groups & Artists industry in the United States in 2025?

    There are 5,603 businesses in the Musical Groups & Artists industry in the United States, which has grown at a CAGR of 2.6 % between 2020 and 2025.

    How may import tariffs affect the Musical Groups & Artists industry in the United States?

    The Musical Groups & Artists industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.

    How may export tariffs affect the Musical Groups & Artists industry in the United States?

    The Musical Groups & Artists industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.

    Has the Musical Groups & Artists industry in the United States grown or declined over the past 5 years?

    The market size of the Musical Groups & Artists industry in the United States has been declining at a CAGR of 1.0 % between 2020 and 2025.

    What is the forecast growth of the Musical Groups & Artists industry in the United States over the next 5 years?

    Over the next five years, the Musical Groups & Artists industry in the United States is expected to grow.

    What does the Musical Groups & Artists industry in the United States include?

    Rock, dance, country and pop bands writing, recording or performing and Independent musicians or vocalists writing, recording or performing are part of the Musical Groups & Artists industry in the United States.

    How competitive is the Musical Groups & Artists industry in the United States?

    The level of competition is high and increasing in the Musical Groups & Artists industry in the United States.

    Methodology

    How are IBISWorld reports created?

    IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

    Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

    IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

    What data sources do IBISWorld analysts use?

    Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

    Key data sources in the US include: 

    • US Census Bureau
    • US Bureau of Labor Statistics
    • US International Trade Commission

    Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

    These sources include:

    • Industry and trade associations
    • Industry federations or regulators
    • Major industry players annual or quarterly filings

    Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

    How does IBISWorld forecast its data?

    IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

    IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

    Learn more about our methodology and data sourcing on the Help Center.

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