Vietnam's music industry isn't just humming a tune, it's orchestrating a spectacular crescendo, with revenues skyrocketing 22.4% to $45.6 million in 2023 as streaming services turn the nation into one of the world's fastest-growing digital music markets.
Key Takeaways
- In 2023, Vietnam's music market revenue reached $45.6 million, marking a 22.4% year-over-year growth driven by streaming services
- Vietnam's recorded music revenues grew by 26.3% in 2022 to $37.2 million, primarily from digital platforms
- The Vietnam music industry is projected to reach $78.5 million by 2027 with a CAGR of 14.2% from 2023-2027
- Paid music streaming subscribers in Vietnam reached 4.2 million in 2023, up 32% YoY
- Spotify had 2.8 million monthly active users in Vietnam in Q4 2023
- YouTube Music streams accounted for 55% of all music streams in Vietnam 2023, totaling 45 billion streams
- Number of professional recording artists in Vietnam reached 12,500 in 2023, up 15% YoY
- Top 1% of Vietnamese artists captured 77% of all streams in 2023
- Female artists accounted for 42% of Vietnam's top 200 streamed artists in 2023
- 65% of Vietnamese internet users aged 16-64 listened to music daily in 2023
- 72% of Gen Z in Vietnam discovered music via social media in 2023 survey
- Average age of music consumers in Vietnam was 24.3 years in 2023
- Number of major music festivals in Vietnam: 45 in 2023, attracting 1.2 million attendees
- Total concert ticket sales volume: 850,000 tickets sold in Vietnam 2023
- Average ticket price for international artist concerts: VND 1.8 million ($74) in 2023 Vietnam
Vietnam's music industry is booming, driven primarily by streaming and strong local content.
Artists and Talent
- Number of professional recording artists in Vietnam reached 12,500 in 2023, up 15% YoY
- Top 1% of Vietnamese artists captured 77% of all streams in 2023
- Female artists accounted for 42% of Vietnam's top 200 streamed artists in 2023
- Independent artists made up 35% of Vietnam's Billboard Hot 100 entries in 2023
- Average annual income for mid-tier Vietnamese musicians was VND 450 million ($18,500) in 2023
- Number of V-pop groups active increased to 150 in 2023 from 95 in 2020
- Son Tung M-TP earned $4.2 million from music in 2023, highest-paid artist
- 2,800 new music releases by Vietnamese artists in Q1 2023 alone
- Underground hip-hop artists grew 28% to 650 acts in Vietnam 2023
- Classical musicians numbered 1,200 professionally active in Vietnam 2023
- Artist management agencies expanded to 120 firms managing 2,500 talents in 2023 Vietnam
- Ballad genre artists dominated with 55% of top earners in Vietnam 2023
- Expatriate international artists performed with locals 180 times in Vietnam 2023
- Music education graduates entered industry at 950 per year in Vietnam 2023
- Rap and EDM producers numbered 850 active in Vietnam 2023
- Artist royalty advances averaged $15,000 per deal in Vietnam 2023
- Duet collaborations between artists spiked 40% to 320 releases in Vietnam 2023
- Folk music revival artists increased to 420 practitioners in 2023 Vietnam
- Top 10 Vietnamese artists had combined 5.2 billion streams in 2023
- Women-led labels signed 28% of new artists in Vietnam 2023
- Session musicians totaled 3,200 in major cities like Hanoi and HCMC 2023
- Viral TikTok artists debuted 75 new names in Vietnam top charts 2023
- Jazz scene had 250 active performers in Vietnam 2023
- Artist brand endorsement deals numbered 450 for top talents in 2023 Vietnam
- Rock bands active count rose to 380 in Vietnam 2023
- Music awards won by Vietnamese artists internationally: 12 in 2023
- Songwriters registered 4,500 works with VCPMC in 2023 Vietnam
- Number of major record labels operating in Vietnam: 18 in 2023, signing 320 artists
Artists and Talent Interpretation
Vietnam's music scene is throwing a massive, vibrant party where everyone's invited to perform, but only a few VIPs—like Son Tung M-TP in his ballad-singing corner—are actually taking home the goody bags, leaving the 12,499 other artists to split the remaining stream of change and a modest VND 450 million average.
Consumer Behavior
- 65% of Vietnamese internet users aged 16-64 listened to music daily in 2023
- 72% of Gen Z in Vietnam discovered music via social media in 2023 survey
- Average age of music consumers in Vietnam was 24.3 years in 2023
- 41% of Vietnamese paid for music subscriptions in urban areas 2023
- Mobile phones used by 92% for music listening in Vietnam 2023
- V-pop preferred by 68% of listeners over international pop in 2023 poll
- Concert attendance rate among 18-34 year-olds: 52% in Vietnam 2023
- 33% of music spend goes to live events for Vietnamese fans 2023
- Female consumers outnumbered males 54:46 in Vietnam music streaming 2023
- Rural music listeners grew 22% to 45% of total in Vietnam 2023
- 78% of users share music on social platforms weekly in Vietnam 2023
- Preferred listening time: evenings 6-10pm for 61% Vietnamese in 2023
- 29% canceled subscriptions due to price hikes in Vietnam 2023
- Karaoke app usage for music: 15 million monthly users in Vietnam 2023
- 64% listen to music while commuting daily in HCMC/Hanoi 2023
- Loyalty to local artists: 71% in Vietnam fan survey 2023
- Podcast listening crossed into music habits for 25% users Vietnam 2023
- 48% attend free outdoor music events annually in Vietnam 2023
- Music festival participation up 35% among millennials Vietnam 2023
- 55% prefer ad-supported free streaming over paid in Vietnam 2023
- Average playlist length curated by users: 85 tracks in Vietnam 2023
- 62% use music for workout/mood enhancement daily Vietnam 2023
- Brand music playlists followed by 40% consumers Vietnam 2023
- Seasonal listening peaks during Tet: 180% increase Vietnam 2023
- 37% buy concert merch post-event in Vietnam 2023
- Cross-genre listening common: 59% in Vietnam youth 2023
- Voice assistant music requests: 12% of smart speaker use Vietnam 2023
- Fan club memberships for artists: 2.1 million active Vietnam 2023
- Music piracy download rate fell to 18% among urban youth 2023
- Live stream concert views averaged 1.2 million per event Vietnam 2023
Consumer Behavior Interpretation
Vietnam's music scene thrums to the rhythm of a fiercely loyal, digitally-native generation that discovers hits on social media, overwhelmingly backs homegrown V-pop stars, and passionately invests their time and money into live concerts—all while curating massive playlists on the phones permanently attached to their hands.
Events and Live Music
- Number of major music festivals in Vietnam: 45 in 2023, attracting 1.2 million attendees
- Total concert ticket sales volume: 850,000 tickets sold in Vietnam 2023
- Average ticket price for international artist concerts: VND 1.8 million ($74) in 2023 Vietnam
- Hanoi held 28% of all major music events in Vietnam 2023
- Post-COVID live music venues reopened 95% to 1,250 locations Vietnam 2023
- EDM festivals drew 450,000 attendees across 12 events in Vietnam 2023
- Virtual concerts streamed to 5.2 million views total Vietnam 2023
- Street music performances licensed: 3,400 in HCMC 2023
- Monsoon Music Festival 2023 sold out 60,000 tickets in 2 hours
- Corporate music events numbered 1,200 with 450,000 participants Vietnam 2023
- Wedding band performances: 120,000 events hiring live music Vietnam 2023
- Arena shows capacity utilization: 88% for top events Vietnam 2023
- Free public concerts reached 2.5 million attendees Vietnam 2023
- K-pop concerts in Vietnam: 22 shows with 320,000 fans 2023
- Bar and club DJ nights: 15,000 events weekly average Vietnam 2023
- Music theater productions: 180 shows averaging 85% occupancy Vietnam 2023
- Cancelled events due to weather: 8% of total scheduled Vietnam 2023
- Hybrid live-streamed events: 65 with 1.8 million concurrent peaks 2023
- Fan meetups for artists: 450 events drawing 180,000 Vietnam 2023
- Outdoor festival safety incidents: down 40% to 12 in 2023 Vietnam
- University campus concerts: 320 events with 500,000 students Vietnam 2023
- Luxury hotel live music residencies: 240 ongoing in 2023 Vietnam
- Record-breaking concert: Blackpink at HCMC 55,000 attendees 2023
- Regional music tours by locals: 120 tours covering 35 provinces 2023
- Acoustic unplugged sessions: 890 gigs in cafes Vietnam 2023
- Symphony orchestra performances: 145 concerts to 220,000 seats sold 2023
- Pop-up music events via apps: 2,100 organized Vietnam 2023
- Year-end award shows: 12 televised events viewership 28 million Vietnam 2023
- Sports stadium music activations: 75 events with 1.1 million fans 2023
- Traditional music festivals: 56 events preserving 120 genres Vietnam 2023
Events and Live Music Interpretation
While Vietnam's music scene is a joyfully chaotic orchestra tuning up—with everything from Blackpink's stadium roar and 15,000 weekly DJ beats to 120,000 wedding bands and symphony crowds—it's clear the post-pandemic audience isn't just listening, they're demanding a ticket to everything, everywhere, all at once.
Industry Trends and Growth
- V-pop market share grew to 52% of total industry consumption in 2023
- AI-generated music tracks released by Vietnamese creators: 1,200 in 2023
- Blockchain for royalties adopted by 15% of labels in Vietnam 2023
- Sustainability initiatives in music events: 42% of festivals carbon-neutral 2023
- Metaverse concerts hosted by Vietnamese artists: 25 events 2023
- Women in executive roles at music firms: up to 28% in Vietnam 2023
- 5G impact on live streaming latency reduced to 2s average 2023 Vietnam
- Indie label growth: 220 new startups since 2020 in Vietnam 2023
- Fan economy value from superfans: $32 million in Vietnam 2023
- Cross-industry collabs (fashion/tech): 180 deals for artists 2023 Vietnam
- Music therapy programs expanded to 45 hospitals Vietnam 2023
- Export of Vietnamese music to 12 countries up 25% streams 2023
- AR filters for music promos used in 65 campaigns Vietnam 2023
- Diversity in genres: hip-hop share doubled to 12% in charts 2023
- Government policy support: 15 new laws aiding digital music 2023
- E-sports music integrations: 90 events with custom tracks 2023
- Vinyl pressing plants: 3 new facilities operational Vietnam 2023
- Social commerce music sales: $4.5 million via Facebook 2023
- Mental health support for artists: 20 programs funded 2023 Vietnam
- 360-degree audio tracks: 850 released by locals Vietnam 2023
- Tourism-music tie-ups: 50 festivals boosting arrivals 15% 2023
- Data analytics tools used by 60% labels for A&R Vietnam 2023
- Eco-friendly merch adoption: 35% of events Vietnam 2023
- Global streaming deals for V-pop: 22 new partnerships 2023
- Youth music entrepreneurship: 1,500 under-25 founders 2023
Industry Trends and Growth Interpretation
Vietnam’s music industry in 2023 confidently strutted onto the future’s stage, wielding AI tools and blockchain ledgers in one hand while firmly holding onto vinyl records and carbon-neutral festivals in the other, proving that progress doesn’t have to abandon soul or sustainability.
Revenue and Market Size
- In 2023, Vietnam's music market revenue reached $45.6 million, marking a 22.4% year-over-year growth driven by streaming services
- Vietnam's recorded music revenues grew by 26.3% in 2022 to $37.2 million, primarily from digital platforms
- The Vietnam music industry is projected to reach $78.5 million by 2027 with a CAGR of 14.2% from 2023-2027
- Physical music sales in Vietnam accounted for only 2.1% of total revenues in 2023, down from 5% in 2020
- Vietnam ranked 27th globally in IFPI's 2023 music market rankings with $45.6 million in revenue
- Music publishing revenues in Vietnam surged 35% in 2023 to $4.2 million due to increased sync deals
- Total music industry GDP contribution in Vietnam was estimated at $120 million in 2022, including live and ancillary revenues
- Vietnam's music export revenues grew 18% to $8.7 million in 2023, led by V-pop in Southeast Asia
- Domestic streaming accounted for 78% of Vietnam's music revenues in 2023, totaling $35.5 million
- Vinyl record sales in Vietnam increased 45% in 2023 to 15,000 units, niche but growing
- Vietnam's music market share in Asia-Pacific was 1.2% in 2023, up from 0.8% in 2020
- Corporate sponsorships contributed $12.4 million to Vietnam music industry in 2023
- Merchandise sales from music events generated $9.8 million in Vietnam 2022
- Royalty collections by VCPMC reached VND 450 billion ($18.5 million) in 2023, up 28%
- Vietnam music tech investments hit $25 million in 2023 from startups like Mubert
- Per capita music spend in Vietnam was $0.45 in 2023, highest in Indochina region
- Sync licensing revenues grew 40% to $3.1 million in Vietnam 2023 for ads and films
- Vietnam's share of global music revenues was 0.11% in 2023
- Live music revenues post-COVID recovered to $28.7 million in 2023, 65% of pre-pandemic levels
- Digital download sales dropped to 1.5% of revenues ($0.7 million) in Vietnam 2023
- Vietnam music market valued at VND 1,150 billion ($47.3 million) in 2023 official estimate
- Brand partnerships generated $15.2 million for Vietnamese artists in 2023
- Ticket sales for music events totaled $22.1 million in Vietnam 2023
- Vietnam's music retail sales (physical/digital) were $2.3 million in 2023
- Government subsidies to music industry amounted to $5.6 million in 2023
- Crowdfunding for music projects raised $1.8 million in Vietnam 2023 via platforms like Kickstarter
- NFT music sales generated $0.9 million for Vietnamese artists in 2023, emerging trend
- Vietnam music ad revenues from platforms like YouTube hit $10.4 million in 2023
- Total ancillary music revenues (merch, etc.) were $18.9 million in 2022 Vietnam
- Vietnam music market CAGR 2018-2023 was 19.8%, highest in SEA for emerging markets
Revenue and Market Size Interpretation
Vietnam's music industry is like a determined bamboo shoot, growing at a breakneck 20% clip as streaming waters its roots, yet its total global revenue of 0.11% reminds us it's still just a sprout in a redwood forest.
Streaming and Digital Consumption
- Paid music streaming subscribers in Vietnam reached 4.2 million in 2023, up 32% YoY
- Spotify had 2.8 million monthly active users in Vietnam in Q4 2023
- YouTube Music streams accounted for 55% of all music streams in Vietnam 2023, totaling 45 billion streams
- Zing MP3 dominated local streaming with 18 million MAUs and 12 billion streams in 2023
- Total audio streams in Vietnam hit 82 billion in 2023, 28% growth from 2022
- Video streams outnumbered audio streams 3:1 in Vietnam, with 250 billion video music views on YouTube 2023
- Apple Music users grew 25% to 1.1 million in Vietnam 2023
- Free tier streaming users comprised 85% of Vietnam's 25 million music streamers in 2023
- Average streams per user in Vietnam was 3,280 annually in 2023
- Short-form video platforms like TikTok drove 40% of music discovery streams in Vietnam 2023
- Deezer expanded to 450,000 users in Vietnam by end-2023
- Premium streaming penetration in Vietnam rose to 17% in 2023 from 12% in 2022
- On-demand streams grew 30% YoY to 75 billion in Vietnam 2023
- Local language content made up 62% of top streamed tracks in Vietnam 2023
- Mobile streaming app usage averaged 45 minutes daily per user in Vietnam 2023
- Piracy rates for music streaming dropped to 22% in Vietnam 2023 due to affordable plans
- Facebook video streams contributed 15 billion music plays in Vietnam 2023
- Audiobook and podcast streams bundled with music hit 5 billion in Vietnam 2023
- Gen Z (18-24) accounted for 58% of streaming volume in Vietnam 2023
- Regional K-pop streams totaled 18 billion in Vietnam 2023, 22% of total
- Hi-Fi streaming adoption grew to 8% of premium users in Vietnam 2023
- Daily music stream peaks reached 250 million during Tet holiday 2023 in Vietnam
- User-generated content remixes generated 2.5 billion streams on TikTok Vietnam 2023
- Streaming revenue per stream in Vietnam averaged $0.0035 in 2023
- Cross-platform streaming (multi-app users) was 35% of Vietnam audience in 2023
- Vietnam's top streamed song "See Tình" had 450 million streams across platforms in 2023
- Amazon Music entered Vietnam with 200,000 sign-ups in first 6 months of 2023
- Vietnam had 28 million active music streaming users aged 13+ in 2023
- V-pop artists dominated 45% of top 100 streamed tracks in Vietnam 2023
Streaming and Digital Consumption Interpretation
Despite surging to 82 billion streams and 4.2 million paying subscribers, Vietnam's music scene is a paradoxical battleground where global titans like YouTube and Spotify are used by almost everyone, yet the local champion Zing MP3 and homegrown V-pop still rule the charts, proving that national identity is winning even as the world tunes in.
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