State of the music creator economy Post-lockdown growth
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20,000 foot view: The Covid pandemic created a unique catalyst for the music creator economy. More time on hands and more cash in pockets gave novices and veterans alike the opportunity to spend both more time and money making music. Though the pandemic was a peak, it also marked the start of a new era for the music creator economy across every one of its aspects, from revenue to creation to remuneration. This report presents an end-to-end assessment of today’s music creator tools marketplace.
Key insights
SECTION ONE: The top of the funnel
- As of of consumers played an instrument, by points from 2021, showing long-term impact of the lockdown million people either play an instrument or plan to learn, representing the total addressable market (TAM) for creator tools
- The number creators uploading and sharing directly grew by while those self-releasing streaming grew by just
- Younger creators going from faster than ever, by simplified tools, more sounds, skills sharing
- More than active buyers of musical instruments the entering the creator tools
SECTION TWO: Music creators
- Proficiency increases with age, with just of themselves as being advanced compared of
- The average music creator professional earns while pros earn
- Ableton Live the most widely used DAW among electronic music producers, followed Reaper and Cubase
- Audio interfaces / MIDI controller keyboards and are the most widely owned used hardware
SECTION THREE: Spend
- Music creators an average of on creator meaning that they spend roughly dollar for every five that earn
- Expenditure has inverse correlation with proficiency – spend times their music income, to only for advanced creators
- Total music tools software and services revenue billion in 2021, across learning, production, sounds, funding, commerce, distribution, and commercial
SECTION FOUR: Market outlook
- The base music creators (those who produce / or record) will grow million in 2021 to million 2030
- Subscriptions represented all software, sounds and services in 2021 million) and will to billion, with million subscribers an average of a year
- DAWs revenue go from million in 2021 billion in 2030, plugins and will go from million to sounds will go from million billion, and skills and learning go from million to billion
- Keyboards, synths grooveboxes was the second largest category in 2021, with billion, will decrease by to reach in 2030
- Music production was the largest segment, with of billion, and will outpace market, growing by to reach by 2030
Companies and brands mentioned in this report: Ableton, Akai, Allen & Heath, Amp, Amuse Fast Forward, Apple, Apple Loops, Arcade, Armin van Buuren, Avid, BandLab, Bandzoogle, Beatclub, Beatport, BeatStars, Cakewalk, CD Baby, Coursera, Create Music Group, Creative Intell, Cubase, Distrokid, Elk, Fiverr, Focusrite, Fender, Fender Play, Flux, Fortnite, FL Studio, Google, Hi Fi, IK Multimedia, Instagram, iRig, iZotope, Kickstarter, LANDR, Linkfire, Live, Logic Pro, Loopcloud, Mackie, MAG Signature Sounds, Masterclass, Merchbar, meta, Musika, NetEase Cloud Music, Output, Pandora, Patreon, Plugin Alliance, Play Virtuoso, PreSonus, ProCollabs, Producer Tech, ProTools, Reaper, Reels, RightsHUB, Roblox, Scarlett, Session Studio, Shorts, Songsplits, SoundBetter, SoundCloud, Soundtrap, Spitfire Audio, Splice, Splits, Spotify, Square, Stem, Studio One, TakeLessons, Tidal, TikTok, Tracklib, TuneCore, Twitch, Twitter, Udemy, Ultimate Guitar, United Masters, Universal Audio, VIP Pelian, Waves Audio, YouTube