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2024 U.S. Industry Statistics & Market Forecast - Sound Recording Studios
Market Size & Industry Statistics
The total U.S. industry market size for Sound Recording Studios:
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 Studios industry include:- Growing demand for high-quality audio content
- Increasing use of digital audio workstations
- Integration of AI and machine learning technologies
- Expansion of independent artists and creators
- Rising popularity of podcasts and audiobooks
- Shift towards remote recording and collaboration
- Enhanced focus on immersive audio formats like Dolby Atmos
- Adoption of blockchain for copyright protection
- Sustainability practices in studio operations
- Growing investments in studio technology and acoustics
- Increasing competition from home studios and mobile applications
- Influence of streaming platforms on music production and distribution
- Heightened interest in live streaming and virtual concerts
- Fluctuating market dynamics influenced by economic conditions
- Regulatory changes impacting copyright laws and royalties
Product & Services Breakdown
Research products and services in the Sound Recording Studios 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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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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Mastering Of Musical Recordings |
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Studio Recording Services For Spoken Word Clients |
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Studio Recording Services For Radio Material |
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Studio Recording Services For Radio Material - Radio Spots |
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Postproduction Services For Audiovisual Works - Sound Editing And Design |
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Postproduction Services For Audiovisual Works - Sound Editing And Design - Contract Production Services For Original Music |
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Postproduction Services For Audiovisual Works - Sound Editing And Design - Additional Dialogue Recording (Adr) |
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Postproduction Services For Audiovisual Works - Sound Editing And Design - Sound Integration And Synchronization |
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Postproduction Services - Other Sound Services For Audiovisual Works |
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Sound Editing And Design Services, Excluding Audiovisual Works |
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Live Audio Recording Services |
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Live Audio Recording Of Other Events |
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Rental Of Non-Residential Space In Buildings Or Other Facilities |
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Rental Of Recording Studio Facilities |
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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) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| 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 Studios 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 Studios industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| 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 Studios 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 Studios Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Sound Recording Studios 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 Studios 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 Studios industry. |
Source:
Innovation News
- May 30, 2023: 16w22ventures trademarks "HEARD CITY" - Audio recording and production; Composition of music for others; Editing or recording of sounds and images; Production of audio recording; Production of sound recordings
- Jan 11, 2022: 16w22ventures trademarks "ABLE BAKER" - Music composition services; Music production services; Music publishing services
- Oct 19, 2021: Sound Force trademarks "SOUND FORCE" - Disc jockey services
Recent Federal Contracts for Sound Recording Studios
- 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
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