Emerging markets (EM) are becoming increasingly significant in the music industry, contributing to approximately 60% of net subscriber additions in 2023, with this share expected to rise to 70% by 2030. This shift has major implications for future growth and royalty distribution, as the average revenue per user (ARPU) in EM is about four times lower than that in developed markets (DM)[1].
Despite lower ARPU, emerging markets present an attractive opportunity for volume growth. The competitive landscape is more fragmented, which may lead to major music companies focusing on signing local acts and enhancing their presence in these regions to capture the burgeoning market[1].
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