Market Analysis Summary for; Rock Of Ages Entertainment:
The Musical Groups & Artists industry focuses on professional groups that primarily produce music, either live in front of an audience or in a recording studio. Musicians in the industry may earn revenue from songwriting, producing or teaching, but they primarily operate as performers. Both recording artist and songwriters are included in the industry, though the industry excludes musical theater, opera, and other professions involved in the creation of records, such as engineers. As providers of a basic and essential source of art and entertainment for most people, musicians enjoy relatively steady demand. The degree to which musicians are compensated for their work, however, depends on a number of factors. These factors include quality of content and technical ability, publicity, popularity of genre, consumer spending power, and the accessibility of illegal or low–cost downloads and streams.
For the vast majority of artist who earn a living playing music, technical ability and disciplined practice generally lead to higher demand, both in terms of landing better-paying contracts and gigs and building a reputation as a worthwhile teacher. For musicians who play popular genres, such as rock, pop, country, or hip-hop, publicity and marketing are essential parts of generating demand. Per capita disposable income most directly influences the degree to which consumers can spend on discretionary entertainment goods like albums and concert tickets.
The industry has seen a average growth rate of 0.7% over the last five years, placing industry funding at an expected $6.2 billion for 2013. Revenue for the Musical Groups and Artist industry has been falling as a result of lower album sales, which affect earnings for top musicians and shrink the industry as a whole, even though most musicians receive little album sales revenue. Digital music is sold at a lower price point (usually about $9.99 for an album, as opposed to about $14.99 for a CD) and as of January 2013, accounts for more overall music sales than physical mediums like CDs according to Nielsen and Billboard. The recession exacerbated this decline by cutting into per capita disposable income, which reflects consumers’ ability to spend on nonessential goods like albums and concert tickets. Revenue for the Musical Groups and Artist industry has been falling as a result of lower album sales, which affect earnings for top musicians and shrink the industry as a whole, even though most musicians receive little albums sales revenue.
As the economy continues to recover and unemployment continues to fall, consumer confidence and spending are expected to increase, I believe in President Biden to get the job done regardless of the Pandemic, leading to growth in music sales. “WE MUST KEEP HOPE ALIVE.” As a result, the Musical Groups & Artist industry is expected to grow at an average rate of 1.6% over the next five years, placing industry funding at $6.7 billion in 2026. I predict now that live performances have open up we should see an increase of 3.5% growth rate for 2024 which approximately increase of, $10.2 billion. These trends bode well for “Rock Of Ages Entertainment” as they show the long-term growth and stability of the industry. But we here at (ROAE) still need you to buy our E-book, music videos, audio singles, Blogs, Articles etc. By subscribing to the monthly subscription which is only, $7.50 per. This will allows us to get back into the studio and create innovative music in the, Pop, R&B, and Adult Alternative music. “We thank you in advance.”
“…the Musical Groups & Artist industry is expected to grow at an average 1.6% over the next five years, placing industry funding at $6.7 billion in 2026…
Freelance Writer, Songwriter, Blog & Poet writer.
Co. Rock Of Ages Entertainment