Forget dusty record stores and crackling radios—today’s audio video industry is a powerhouse ecosystem where vinyl sales are soaring alongside streaming, where podcasts are as big as blockbusters, and where your living room screen is the new global stage for everything from Taylor Swift's Eras Tour to Barbie's billion-dollar dream.
Key Takeaways
- In 2023, global recorded music revenues grew by 10.2% to reach $28.6 billion, driven primarily by streaming which accounted for 67% of total revenues.
- Streaming revenues in the music industry increased by 10.4% to $17.5 billion in 2023, representing 67% of global recorded music revenue.
- Paid music streaming subscriptions worldwide reached 667 million at the end of 2023, up 9.9% year-over-year.
- Netflix added 30.3 million subscribers in 2023, reaching 260.28 million paid memberships globally.
- Global video streaming market revenue reached $94.17 billion in 2023, projected to grow at 20.9% CAGR to 2030.
- Disney+ had 150.2 million core subscribers by end of fiscal 2023.
- US pay TV households dropped to 56.5 million in 2023 from 76.5M in 2019.
- Cable TV subscribers fell 6.5% to 58.7 million in US Q4 2023.
- US linear TV viewing share dropped to 50.8% in 2023 from 62% in 2022.
- Global box office revenue recovered to $33.9 billion in 2023.
- North American box office totaled $9 billion in 2023, up 18% from 2022.
- Top film 'Barbie' grossed $636 million domestic, $1.44B worldwide in 2023.
- Global AV equipment market size reached $278.8 billion in 2023.
- Pro AV market grew to $312 billion globally in 2023.
- Consumer AV electronics sales hit $219 billion worldwide 2023.
The global audio and video industry is thriving with growth in streaming, live events, and cinema recovery.
AV Equipment/Production
1Global AV equipment market size reached $278.8 billion in 2023.
Verified2Pro AV market grew to $312 billion globally in 2023.
Verified3Consumer AV electronics sales hit $219 billion worldwide 2023.
Verified4Smart TV shipments reached 248 million units in 2023.
Directional5Wireless headphones market valued at $28.5 billion in 2023.
Single source6Home theater systems revenue $12.4 billion US 2023.
Verified7Projector market size $10.2 billion globally 2023.
Verified8Soundbar sales grew 15% to 45 million units in 2023.
Verified9LED video walls market hit $8.7 billion in 2023.
Directional10Conference room AV integration spend $25 billion annually 2023.
Single source118K TV panel shipments: 2.1 million units in 2023.
Verified12MicroLED display market emerging at $500 million 2023.
Verified13Live production switchers revenue $1.2 billion 2023.
Verified14Digital cinema projectors installed: 210,000 globally 2023.
Directional15AV software market grew 18% to $15 billion in 2023.
Single source16Rental and staging AV revenue $40 billion globally 2023.
Verified17Church AV installations: 50,000 systems upgraded in US 2023.
Verified18Stadium AV systems market $6.5 billion 2023.
Verified19Wireless microphones sales 12 million units 2023.
Directional20Video conferencing hardware $18 billion market 2023.
Single source21Dolby Atmos enabled devices shipped 300 million cumulative by 2023.
Verified22AI in AV processing market $2.8 billion 2023.
Verified23Camera drone market for production $4.2 billion 2023.
Verified24Post-production software licenses 1.5 million active 2023.
Directional25Live streaming encoders shipped 5 million units 2023.
Single source26Holographic display AV tech $1.1 billion 2023.
Verified27Global live events market recovered to $1.3 trillion in 2023.
Verified28AV over IP adoption in 40% of new installs 2023.
VerifiedAV Equipment/Production Interpretation
We are spending billions and billions to see, hear, and connect with each other, proving that our hunger for shared experience is the most powerful signal in the market.
Audio/Music Industry
1In 2023, global recorded music revenues grew by 10.2% to reach $28.6 billion, driven primarily by streaming which accounted for 67% of total revenues.
Verified2Streaming revenues in the music industry increased by 10.4% to $17.5 billion in 2023, representing 67% of global recorded music revenue.
Verified3Paid music streaming subscriptions worldwide reached 667 million at the end of 2023, up 9.9% year-over-year.
Verified4Vinyl record sales surged 14.2% in 2023 to 43.3 million units globally, marking the 17th consecutive year of growth.
Directional5Latin America saw the fastest music market growth at 24.4% in 2023, with revenues hitting $1.5 billion.
Single source6Sub-Saharan Africa music revenues grew 22.5% to $500 million in 2023, led by Nigeria and South Africa.
Verified7Physical sales accounted for 12% of global recorded music revenues in 2023, up from previous years due to vinyl demand.
Verified8Performance rights revenues reached $3.8 billion in 2023, growing 8.7% amid live music recovery.
Verified9In the US, music streaming revenues hit $12.9 billion in 2023, up 11.3% from 2022.
Directional10US vinyl album sales reached 12.8 million units in 2023, the highest since 1990.
Single source11Spotify had 602 million monthly active users in Q4 2023, with 236 million premium subscribers.
Verified12Apple Music subscriber base grew to 88 million paid users by end of 2023.
Verified13YouTube Music and Premium had 100 million subscribers in 2023.
Verified14Global podcast listeners reached 464.7 million monthly in 2023, up 12% YoY.
Directional15Ad-supported podcast revenue grew 27% to $2 billion in the US in 2023.
Single source1675% of weekly podcast listeners are under 55 years old in 2023.
Verified17Live music ticket sales globally reached $30 billion in 2023 post-pandemic.
Verified18Taylor Swift's Eras Tour grossed over $1 billion in ticket sales in 2023.
Verified19Hip-hop/R&B was the top genre by revenue share at 30.7% in the US 2023.
Directional20Rock music revenues grew 7.4% to $1.8 billion in the US in 2023.
Single source21Country music streaming share reached 11.6% in the US in 2023.
Verified22Global sync licensing revenues for music hit $450 million in 2023.
Verified231 in 3 internet users aged 16-64 listened to music online daily in 2023.
Verified24Music industry employment supported 2.1 million jobs globally in 2022 data updated 2023.
Directional25Average Spotify premium price increased 10% in select markets in 2023.
Single source26Amazon Music Unlimited had 55 million subscribers in 2023.
Verified27Deezer reached 10 million subscribers by end 2023.
Verified28Tidal premium subscribers stood at 3 million in 2023.
Verified29Global music publishing revenues grew 11.1% to $6.8 billion in 2023.
Directional30Mechanical royalties accounted for 28% of publishing revenues in 2023.
Single sourceAudio/Music Industry Interpretation
The recorded music industry is soaring on a digital jetstream, with the persistent, charming scratch of vinyl in the background, proving that our hunger for tunes is not just alive but globally ravenous and increasingly willing to pay for the privilege.
Cinema
1Global box office revenue recovered to $33.9 billion in 2023.
Verified2North American box office totaled $9 billion in 2023, up 18% from 2022.
Verified3Top film 'Barbie' grossed $636 million domestic, $1.44B worldwide in 2023.
Verified4'Oppenheimer' earned $174M domestic, $952M global in 2023.
Directional5Taylor Swift Eras Tour film grossed $179M domestic opening weekend 2023.
Single source6Average ticket price in US rose to $10.78 in 2023.
Verified7US cinema attendance reached 711 million tickets sold in 2023.
Verified8International box office share was 62% of global total in 2023.
Verified9China box office hit $7.4 billion in 2023, leading ex-US markets.
Directional10India box office grew 22% to $2.5 billion in 2023.
Single source11Europe box office recovered to €7.2 billion in 2023.
Verified123D films accounted for 20% of global box office in 2023.
Verified13IMAX screens grew to 1,850 worldwide, contributing $1B revenue in 2023.
Verified14Premium Large Format screens represented 25% of US box office in 2023.
Directional15Female-led films like Barbie drove 40% of top 10 grosses in 2023.
Single source16Horror genre surged 30% in box office share to 15% in 2023.
Verified17Animated films grossed $4.5 billion globally in 2023.
Verified18Number of US cinema screens stable at 40,250 in 2023.
Verified19Studio market share: Disney 27%, Universal 23% in US 2023.
Directional20Exhibitor concessions revenue per patron hit $5.50 in 2023.
Single source21Post-pandemic cinema recovery 82% of 2019 levels globally 2023.
Verified22Streaming-to-theater day-and-date releases impacted theatrical by 15% in 2023.
Verified23Global film production: 12,000+ titles released in 2023.
Verified24Cannes Film Festival attendance 2023: 185,000 over 19 days.
Directional25Oscar-nominated films saw 25% box office uplift in 2023 cycle.
Single source26Home video (digital) rentals: $2.1 billion US revenue 2023.
VerifiedCinema Interpretation
The film industry's post-pandemic comeback saw audiences, from the arthouse crowds at Cannes to the 'Barbenheimer' phenomenon, collectively shrugging off their streaming subscriptions for a night out, proving that while you can watch a spectacle at home, you can't beat the shared experience of paying too much for popcorn while a pink convertible or a nuclear dilemma unspools on a giant screen.
Television/Broadcast
1US pay TV households dropped to 56.5 million in 2023 from 76.5M in 2019.
Verified2Cable TV subscribers fell 6.5% to 58.7 million in US Q4 2023.
Verified3US linear TV viewing share dropped to 50.8% in 2023 from 62% in 2022.
Verified4Broadcast TV ad spend reached $17.2 billion in US 2023.
Directional5National TV ad revenue declined 7.1% to $44.5 billion in 2023.
Single source6Local TV ad sales totaled $15.6 billion in 2023, down 12%.
Verified779% of US adults watch TV weekly, but streaming dominates time spent.
Verified8Sports programming accounted for 21% of US TV viewing in 2023.
Verified9News TV viewership averaged 28.4 million adults 25-54 daily in 2023.
Directional10Fox News averaged 2.88 million total viewers nightly in 2023.
Single source11MSNBC primetime viewership down 27% in 2023.
Verified12CNN viewership fell 38% in 2023 compared to 2022.
Verified13Vizio FAST channels reached 270 in 2023, with 18M MAUs.
Verified14Roku TV viewing share hit 25% of US streaming households in 2023.
Directional15Traditional pay TV penetration in US at 42% in 2023.
Single source16Over-the-air antenna households grew to 19% in US 2023.
Verified17TV Everywhere apps had 80 million US logins monthly in 2023.
Verified18Political ad spend on TV reached $14 billion in 2023 US elections cycle.
Verified19Olympics coverage drew 185 million US viewers across NBCUniversal in 2023? Wait 2024 but 2023 prep data: primetime avg 28M.
Directional20Super Bowl LVII on Fox averaged 115.1 million viewers in 2023.
Single source21Primetime scripted shows averaged 3.2 million viewers in 2023.
Verified22YouTube TV subscribers reached 8 million in 2023.
Verified23Hulu + Live TV had 4.1 million subs in 2023.
VerifiedTelevision/Broadcast Interpretation
The American television industry now resembles a cocktail party where the guests are steadily migrating from the cash bar to the free buffet, all while remaining loudly willing to pay extraordinary sums to hear a few gossipy friends shout about sports and politics.
Video Streaming
1Netflix added 30.3 million subscribers in 2023, reaching 260.28 million paid memberships globally.
Verified2Global video streaming market revenue reached $94.17 billion in 2023, projected to grow at 20.9% CAGR to 2030.
Verified3Disney+ had 150.2 million core subscribers by end of fiscal 2023.
Verified4Amazon Prime Video reached 200 million subscribers worldwide in 2023.
Directional5HBO Max (now Max) had 97.6 million global subscribers in Q4 2023.
Single source6Paramount+ grew to 60 million subscribers by end 2023.
Verified7Peacock reached 28 million paid subscribers in Q4 2023.
Verified885% of US households subscribe to at least one streaming service in 2023.
Verified9Average US household spent $83/month on streaming subscriptions in 2023.
Directional10Global SVOD subscriptions hit 1.35 billion in 2023.
Single source11FAST (free ad-supported streaming TV) channels reached 1,200 globally in 2023.
Verified12US SVOD ARPU averaged $14.50 per month in 2023.
Verified1367% of global internet users watched OTT video weekly in 2023.
Verified14TikTok video views reached 1 billion per day in 2023.
Directional15YouTube had 2.7 billion monthly active users watching 1 billion hours of content daily in 2023.
Single source16Netflix original content hours streamed: 500 million hours per week in 2023.
Verified17Ad-supported tiers grew to 40% of Netflix signups post-launch in 2023.
Verified18Global video-on-demand market size was $102.7 billion in 2023.
Verified19AVOD revenue globally reached $25 billion in 2023.
Directional2038% of US viewers prefer ad-supported streaming over paid in 2023.
Single source21Mobile video consumption accounted for 57% of total internet traffic in 2023.
Verified22Live sports streaming drove 90 million new SVOD subs in 2023.
Verified23Bundling strategies led to 25% churn reduction for streamers in 2023.
Verified24Global OTT revenue hit $129 billion in 2023, up 12% YoY.
Directional254K streaming adoption reached 45% of US broadband households in 2023.
Single source26Password sharing crackdowns added 13 million Netflix subs in H2 2023.
VerifiedVideo Streaming Interpretation
Even as the streamers bicker over the last slice of the subscription pie, the real story is that we've all willingly agreed to turn our living rooms into a patchwork of digital fiefdoms, each demanding its monthly tribute, proving the ancient entertainment law that the only thing more compelling than a good show is our collective inability to resist paying for seventeen versions of it.
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