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
- 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.
- Smart TV shipments reached 248 million units in 2023.
- Wireless headphones market valued at $28.5 billion in 2023.
- Home theater systems revenue $12.4 billion US 2023.
- Projector market size $10.2 billion globally 2023.
- Soundbar sales grew 15% to 45 million units in 2023.
- LED video walls market hit $8.7 billion in 2023.
- Conference room AV integration spend $25 billion annually 2023.
- 8K TV panel shipments: 2.1 million units in 2023.
- MicroLED display market emerging at $500 million 2023.
- Live production switchers revenue $1.2 billion 2023.
- Digital cinema projectors installed: 210,000 globally 2023.
- AV software market grew 18% to $15 billion in 2023.
- Rental and staging AV revenue $40 billion globally 2023.
- Church AV installations: 50,000 systems upgraded in US 2023.
- Stadium AV systems market $6.5 billion 2023.
- Wireless microphones sales 12 million units 2023.
- Video conferencing hardware $18 billion market 2023.
- Dolby Atmos enabled devices shipped 300 million cumulative by 2023.
- AI in AV processing market $2.8 billion 2023.
- Camera drone market for production $4.2 billion 2023.
- Post-production software licenses 1.5 million active 2023.
- Live streaming encoders shipped 5 million units 2023.
- Holographic display AV tech $1.1 billion 2023.
- Global live events market recovered to $1.3 trillion in 2023.
- AV over IP adoption in 40% of new installs 2023.
AV 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
- 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.
- Vinyl record sales surged 14.2% in 2023 to 43.3 million units globally, marking the 17th consecutive year of growth.
- Latin America saw the fastest music market growth at 24.4% in 2023, with revenues hitting $1.5 billion.
- Sub-Saharan Africa music revenues grew 22.5% to $500 million in 2023, led by Nigeria and South Africa.
- Physical sales accounted for 12% of global recorded music revenues in 2023, up from previous years due to vinyl demand.
- Performance rights revenues reached $3.8 billion in 2023, growing 8.7% amid live music recovery.
- In the US, music streaming revenues hit $12.9 billion in 2023, up 11.3% from 2022.
- US vinyl album sales reached 12.8 million units in 2023, the highest since 1990.
- Spotify had 602 million monthly active users in Q4 2023, with 236 million premium subscribers.
- Apple Music subscriber base grew to 88 million paid users by end of 2023.
- YouTube Music and Premium had 100 million subscribers in 2023.
- Global podcast listeners reached 464.7 million monthly in 2023, up 12% YoY.
- Ad-supported podcast revenue grew 27% to $2 billion in the US in 2023.
- 75% of weekly podcast listeners are under 55 years old in 2023.
- Live music ticket sales globally reached $30 billion in 2023 post-pandemic.
- Taylor Swift's Eras Tour grossed over $1 billion in ticket sales in 2023.
- Hip-hop/R&B was the top genre by revenue share at 30.7% in the US 2023.
- Rock music revenues grew 7.4% to $1.8 billion in the US in 2023.
- Country music streaming share reached 11.6% in the US in 2023.
- Global sync licensing revenues for music hit $450 million in 2023.
- 1 in 3 internet users aged 16-64 listened to music online daily in 2023.
- Music industry employment supported 2.1 million jobs globally in 2022 data updated 2023.
- Average Spotify premium price increased 10% in select markets in 2023.
- Amazon Music Unlimited had 55 million subscribers in 2023.
- Deezer reached 10 million subscribers by end 2023.
- Tidal premium subscribers stood at 3 million in 2023.
- Global music publishing revenues grew 11.1% to $6.8 billion in 2023.
- Mechanical royalties accounted for 28% of publishing revenues in 2023.
Audio/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
- 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.
- 'Oppenheimer' earned $174M domestic, $952M global in 2023.
- Taylor Swift Eras Tour film grossed $179M domestic opening weekend 2023.
- Average ticket price in US rose to $10.78 in 2023.
- US cinema attendance reached 711 million tickets sold in 2023.
- International box office share was 62% of global total in 2023.
- China box office hit $7.4 billion in 2023, leading ex-US markets.
- India box office grew 22% to $2.5 billion in 2023.
- Europe box office recovered to €7.2 billion in 2023.
- 3D films accounted for 20% of global box office in 2023.
- IMAX screens grew to 1,850 worldwide, contributing $1B revenue in 2023.
- Premium Large Format screens represented 25% of US box office in 2023.
- Female-led films like Barbie drove 40% of top 10 grosses in 2023.
- Horror genre surged 30% in box office share to 15% in 2023.
- Animated films grossed $4.5 billion globally in 2023.
- Number of US cinema screens stable at 40,250 in 2023.
- Studio market share: Disney 27%, Universal 23% in US 2023.
- Exhibitor concessions revenue per patron hit $5.50 in 2023.
- Post-pandemic cinema recovery 82% of 2019 levels globally 2023.
- Streaming-to-theater day-and-date releases impacted theatrical by 15% in 2023.
- Global film production: 12,000+ titles released in 2023.
- Cannes Film Festival attendance 2023: 185,000 over 19 days.
- Oscar-nominated films saw 25% box office uplift in 2023 cycle.
- Home video (digital) rentals: $2.1 billion US revenue 2023.
Cinema 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
- 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.
- Broadcast TV ad spend reached $17.2 billion in US 2023.
- National TV ad revenue declined 7.1% to $44.5 billion in 2023.
- Local TV ad sales totaled $15.6 billion in 2023, down 12%.
- 79% of US adults watch TV weekly, but streaming dominates time spent.
- Sports programming accounted for 21% of US TV viewing in 2023.
- News TV viewership averaged 28.4 million adults 25-54 daily in 2023.
- Fox News averaged 2.88 million total viewers nightly in 2023.
- MSNBC primetime viewership down 27% in 2023.
- CNN viewership fell 38% in 2023 compared to 2022.
- Vizio FAST channels reached 270 in 2023, with 18M MAUs.
- Roku TV viewing share hit 25% of US streaming households in 2023.
- Traditional pay TV penetration in US at 42% in 2023.
- Over-the-air antenna households grew to 19% in US 2023.
- TV Everywhere apps had 80 million US logins monthly in 2023.
- Political ad spend on TV reached $14 billion in 2023 US elections cycle.
- Olympics coverage drew 185 million US viewers across NBCUniversal in 2023? Wait 2024 but 2023 prep data: primetime avg 28M.
- Super Bowl LVII on Fox averaged 115.1 million viewers in 2023.
- Primetime scripted shows averaged 3.2 million viewers in 2023.
- YouTube TV subscribers reached 8 million in 2023.
- Hulu + Live TV had 4.1 million subs in 2023.
Television/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
- 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.
- Amazon Prime Video reached 200 million subscribers worldwide in 2023.
- HBO Max (now Max) had 97.6 million global subscribers in Q4 2023.
- Paramount+ grew to 60 million subscribers by end 2023.
- Peacock reached 28 million paid subscribers in Q4 2023.
- 85% of US households subscribe to at least one streaming service in 2023.
- Average US household spent $83/month on streaming subscriptions in 2023.
- Global SVOD subscriptions hit 1.35 billion in 2023.
- FAST (free ad-supported streaming TV) channels reached 1,200 globally in 2023.
- US SVOD ARPU averaged $14.50 per month in 2023.
- 67% of global internet users watched OTT video weekly in 2023.
- TikTok video views reached 1 billion per day in 2023.
- YouTube had 2.7 billion monthly active users watching 1 billion hours of content daily in 2023.
- Netflix original content hours streamed: 500 million hours per week in 2023.
- Ad-supported tiers grew to 40% of Netflix signups post-launch in 2023.
- Global video-on-demand market size was $102.7 billion in 2023.
- AVOD revenue globally reached $25 billion in 2023.
- 38% of US viewers prefer ad-supported streaming over paid in 2023.
- Mobile video consumption accounted for 57% of total internet traffic in 2023.
- Live sports streaming drove 90 million new SVOD subs in 2023.
- Bundling strategies led to 25% churn reduction for streamers in 2023.
- Global OTT revenue hit $129 billion in 2023, up 12% YoY.
- 4K streaming adoption reached 45% of US broadband households in 2023.
- Password sharing crackdowns added 13 million Netflix subs in H2 2023.
Video 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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