Independent Artists Market Size
| Study Period | 2018-2028 |
| Market Size (2023) | USD 97.35 Billion |
| Market Size (2028) | USD 139.50 Billion |
| CAGR (2023 - 2028) | 7.46 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Independent Artists Market Analysis
The Independent Artists Market size is expected to grow from USD 97.35 billion in 2023 to USD 139.50 billion by 2028, at a CAGR of 7.46% during the forecast period (2023-2028).
The coronavirus pandemic that swept the world affected every industry in more ways than one. The social distancing standards caused worldwide cancellations of live events at stadiums, arenas, theatres, resorts, theme parks, and other venues. It severely affected the arts industry by causing significant ticket sales, merchandise, promotions, and advertising losses. The cultural and creative industries like performing arts suffered the most in the crisis owing to the art's nature, which requires an audience's physical presence. The restrictions during the pandemic meant performance activities were no longer permissible.
In this era and age, there are more independent artists than ever before breaking into the mainstream without the support of a label, partly due to digital music distribution, Streaming platforms, social media, online marketing tools, and technological advancements which changed the way artist release music and reached their targeted audience (fans). Many independent artists of the current and past generations acclaimed major success without signing with record labels.
Strong emerging market growth, increased global population, government efforts, and concert attendance all contributed to growth during the historical period. Future growth will be fueled by independent artists' emergence, tourism, art e-commerce sales, technological advancement, and economic expansion.
Independent Artists Market Trends
Visual Arts Segment Dominated the Market
The two main market segments for independent artists are visual and performing arts. The visual arts market was the largest segment of independent artists. In the future, the visual arts market is expected to be the fastest growing segment in the independent artists and performing art companies market segmented by art type, at a CAGR of 10% during the forecasted period. The visual arts market comprises ceramics, photography, drawing & painting, and other visual arts. Like visual art, music is universal and accessible to people of many languages and cultures. Many individuals hear music in their dreams, and some see colors when they hear music; this is a type of synesthesia. Visual art can elicit an emotional reaction. Artists produce works that elicit emotions but also change one's mood, evoke memories, and provide comfort and inspiration because they share aspects such as harmony, balance, rhythm, and repetition in visual art.
Moreover, visual and performing arts organizations collaborate with corporations, urban equality initiatives, and military and veteran organizations to address social challenges. By working together, they may accomplish their shared objectives of growing audiences, saving money, and resolving societal concerns like hunger, homelessness, etc.
Asia Pacific is the Largest Region in the Independent Artists Market
Asia Pacific was the largest region in the independent artists and performing art companies market, accounting for 35.0% of the total in the current year. Western Europe followed it, and then the other regions. In the future, the fastest-growing regions in the independent artists market will be South America and Africa, where growth will be at CAGRs of 12.5% and 11.5%Singapore concerts, respectively. Asia Pacific and the Middle East, where the markets are expected to grow at CAGRs of 11.5% and 11.3 %, respectively.
Events that took place in Asia Pacific in the current year are the Thai music festival series POW Fest was back in June, for a three-day affair featuring YONLAPA, Death Of Heather, Dog Whine, Folk 9, and more. Taiwanese pop and rock veteran Lo Ta You was slated to perform his first-ever on Father’s Day in June. Korean hip-hop group Epik High headed to Singapore, Melbourne, Sydney, Bangkok, and Jakarta for the Epik High Is Here Tour. The tour kicked off in Singapore on July 9, then headed to Australia for stops in Melbourne (July 11) and Sydney (July 12). The group then returns to Southeast Asia to perform in Bangkok, Thailand, Singapore concerts, Jakarta, and Indonesia.
Independent Artists Industry Overview
The global independent artists market is highly fragmented, with many small players. Some of the major players in the market include CJ Corp, Cineworld Group plc, AMC Entertainment Holdings, Inc., Cinemark Holdings, Inc., PVR Limited, The Metropolitan Opera Association, Cineplex Inc., Kinepolis Group NV, Village Roadshow Ltd., and INOX Leisure Limited, among others. The companies are introducing new music in the market using new technologies. They use various marketing strategies to increase their market shares. The market is expected to remain competitive over the forecasted period.
Independent Artists Market Leaders
CJ Corp
Cineworld Group plc
AMC Entertainment Holdings, Inc.
Cinemark Holdings, Inc.
Cineplex Inc.
*Disclaimer: Major Players sorted in no particular order
Independent Artists Market News
- January 2023: AMC Entertainment Holdings, Inc., the largest theatrical exhibitor in the United States, in Europe & the Middle East, and the world, announced that following the successful launch of movie theatre operations in the Kingdom of Saudi Arabia in partnership with Saudi Entertainment Ventures (SEVEN), the Company has reached an agreement to transition from a management and investment role in the Saudi Cinema Company (SCC) to a pure licensing relationship.
- December 2022: Kinepolis Group NV acquired Les Cinémas Pathé Gaumont from Pathé SAS. Following this acquisition, Kinepolis France now operates 15 Kinepolis cinemas and one Arthouse cinema named Klub, with a total of 176 screens and over 40,000 seats.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Industry Attractiveness: Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Visual Arts
5.1.2 Performing Arts
5.2 By End User
5.2.1 Individual Users
5.2.2 Commercial Users
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 CJ Corp
6.2.2 Cineworld Group plc
6.2.3 AMC Entertainment Holdings, Inc.
6.2.4 Cinemark Holdings, Inc.
6.2.5 Cineplex Inc.
6.2.6 The Metropolitan Opera Association
6.2.7 Broadway Theatre
6.2.8 Bolshoi Theatre
6.2.9 Poly Culture Group Corporation
6.2.10 New Jersey Performing Arts Center
6.2.11 Sydney Opera House
6.2.12 American Ballet Theatre
6.2.13 Roundabout Theatre
6.2.14 Lyric Opera of Chicago*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Independent Artists Industry Segmentation
An independent artist is a musician or musical group not contracted with a record label. When it comes to bands, those that release their own material on self-published CDs or those that primarily exist to perform at concerts can be considered unsigned bands. Market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics, and insights is covered in the report. The report will also cover information on some major global players. Independent Artists is segmented by By Type (Performing Arts, Visual Arts), By End User (Individual Users and Commercial Users), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| By Type | |
| Visual Arts | |
| Performing Arts |
| By End User | |
| Individual Users | |
| Commercial Users |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Frequently Asked Questions
How big is the Independent Artists Market?
The Independent Artists Market size is expected to reach USD 97.35 billion in 2023 and grow at a CAGR of 7.46% to reach USD 139.50 billion by 2028.
What is the current Independent Artists Market size?
In 2023, the Independent Artists Market size is expected to reach USD 97.35 billion.
Who are the key players in Independent Artists Market?
CJ Corp, Cineworld Group plc, AMC Entertainment Holdings, Inc., Cinemark Holdings, Inc. and Cineplex Inc. are the major companies operating in the Independent Artists Market.
Which is the fastest growing region in Independent Artists Market?
Europe is estimated to grow at the highest CAGR over the forecast period (20221-2028).
Which region has the biggest share in Independent Artists Market?
In 20221, the Asia-Pacific accounts for the largest market share in Independent Artists Market.
Independent Artists Industry Report
Statistics for the 2023 Independent Artists market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Independent Artists analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
