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2024 U.S. Industry Statistics & Market Forecast - Sound Recording Industries
Market Size & Industry Statistics
The total U.S. industry market size for Sound Recording Industries:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Sound Recording Industries industry include:- Shift towards streaming platforms
- Increasing importance of digital distribution
- Rise of independent artists and labels
- Decline in physical media sales (CDs, vinyl)
- Growth in podcasting and other digital audio content
- Impact of global markets, especially Asia and Africa
- Integration of music with social media platforms
- Advancements in music production technology
- Growing importance of data analytics and artificial intelligence
- Challenges in copyright and intellectual property management
- Emphasis on live performances and tours for revenue
- Influence of video games and virtual reality on music consumption
- Environmental concerns affecting physical production and tours
- Increasing role of voice-activated technologies and smart devices
- Adoption of blockchain technology for rights management and royalties
Product & Services Breakdown
Research products and services in the Sound Recording Industries industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Licensing Of Rights To Use Musical Compositions |
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Licensing Of Rights To Use Musical Compositions - In Broadcast Performances (I.E., Broadcast Performance Rights) |
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Licensing Of Rights To Use Musical Compositions - In Public Performances, Excluding Broadcast (I.E., Performance Rights, Excludi |
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Licensing Of Rights To Use Musical Compositions - To Reproduce And Distribute Recordings (I.E., Mechanical Rights) |
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Licensing Of Rights To Use Musical Compositions - In Television Programs (I.E., Television Synchronization Rights) |
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Licensing Of Rights To Use Musical Recordings |
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Musical Phonorecords |
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Musical Compact Discs |
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Electronic Musical Phonorecords |
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Print Music |
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Print Music - Music Books |
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Print Music - Sheet Music, Folios, And Electronic Musical Text |
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Administration Of Copyrights For Others |
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Studio Recording Services For Music Clients |
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Studio Recording, Excluding Mixing Of Musical Recordings |
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Studio Recording, Including Mixing Of Musical Recordings |
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Studio Recording Services For Radio Material |
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Audiovisual Works Sold Directly To The Consumer |
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Postproduction Services For Audiovisual Works - Sound Editing And Design |
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Postproduction Services - Other Sound Services For Audiovisual Works |
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All Other Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Sound Recording Industries company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Sound Recording Industries industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Sound Recording Industries measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 16% | Order at top of page |
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| Top Executives | 8% | |||
| Chief Executives | 1% | |||
| General and Operations Managers | 6% | |||
| General and Operations Managers | 6% | |||
| Business and Financial Operations Occupations | 15% | |||
| Business Operations Specialists | 12% | |||
| Arts, Design, Entertainment, Sports, and Media Occupations | 38% | |||
| Entertainers and Performers, Sports and Related Workers | 13% | |||
| Actors, Producers, and Directors | 10% | |||
| Producers and Directors | 10% | |||
| Media and Communication Equipment Workers | 20% | |||
| Broadcast, Sound, and Lighting Technicians | 17% | |||
| Sound Engineering Technicians | 13% | |||
| Sales and Related Occupations | 7% | |||
| Sales Representatives, Services | 6% | |||
| Miscellaneous Sales Representatives, Services | 6% | |||
| Sales Representatives of Services, Except Advertising, Insurance, Financial Services, and Travel | 6% | |||
| Office and Administrative Support Occupations | 17% | |||
Sound Recording Industries Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Sound Recording Industries industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Sound Recording Industries industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Sound Recording Industries industry. |
Source:
Innovation News
- Feb 29, 2024: Spider Grills patents System And Method For Bimodal Air Control In A Kettle-style Grill
- Feb 29, 2024: Spider Grills patents System And Method For Bimodal Air Control In A Kettle-style Grill
- Jan 30, 2024: Payload trademarks "PAYLOAD" - Downloadable computer software for use in the facilitation of electronic payments; downloadable computer software for use in the facilitation of automated payments; Downloadable computer software
- Jan 18, 2024: Soundexchange trademarks "SOUNDBYTE" - On-line electronic newsletters delivered by e-mail in the field of music and the music industry, including musicians and recording artists, music events, sound recordings, record labels, music distribution and licensing, and collection of royalties
- Jan 11, 2024: Spider Grills patents System And Method For A Kamado Cooker That Looks Like An Iconic Kettle-style Grill
- Dec 29, 2023: GO Live Productions trademarks "GO LIVE PRODUCTIONS" - Rental of musical instruments; Rental services for audio and video equipment; Arranging and conducting of concerts; Conducting of entertainment events in the nature of live musical performances; Entertainment services in the nature of production of live musical performances; Organization of entertainment events in the nature of live musical performances; Rental of lighting apparatus for theatrical sets
- Dec 21, 2023: Datanchor raises $6 million in funding.
- Jul 17, 2023: Offbeat Ventures raises $2 million in funding.
- Jul 14, 2023: Offbeat Ventures raises $2 million in funding.
Recent Federal Contracts for Sound Recording Industries
- Mar 27, 2024: CYNERGY PROFESSIONAL SYSTEMS LLC (Laguna Hills, CA) awarded $48,880
- Mar 21, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $13,942
- Mar 21, 2024: BRUCE JOHNSON (Candler, NC) awarded $12,800
- Mar 21, 2024: EUGENE ADRIEN PEYROUX III (Alexander, NC) awarded $88,110
- Mar 06, 2024: UNITED SUPPLY ALLIANCE LLC (San Marcos, CA) awarded $13,749
- Feb 23, 2024: ASSOCIATED PRODUCTION MUSIC LLC (Los Angeles, CA) awarded $6,000
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