Bharat Book Bureau Provides the Trending Market Research Report on "Music Recording Global Market Report 2021"under Media Industry Analysis Report section. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
Music Recording Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global music recording market as it emerges from the Covid 19 shut down.
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Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the music recording markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of 'lock down'. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the music recording market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Increase In Mobile, Tablet Platforms - Access to music on mobile platforms has increased significantly in recent years and this trend is likely to continue in the forecast period, thus driving the music recordings market. This is mainly driven by the rise in internet penetration and growth in smart phones and tablets, especially in emerging countries. By the end of 2019, 72% of mobile traffic is expected to be video content. Thus, rise in the demand for music content through mobile platforms is expected to have a positive effect on the market during the forecast period.
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