Recording Studio industry revenue is forecast to increase to $1.4 billion over the next five years. Growth will be driven by an increase in demand from record labels, TV producers and advertisers are anticipated to drive revenue growth. Furthermore, continued stability among these producers, as well as various advertisers, will also likely enable entertainment industries to take advantage of increasing consumer disposable income levels, which ultimately contributes to the continued need for the industry.
The industry also benefits from various revenue streams, including TV, movie, radio and advertising production. Secondary revenue streams are forecast to experience steady growth, and film and TV studio work is projected to continue its recent ascendency over music as the industry’s primary target market. This emergence of new content will likely continue over the next five years, providing steady demand for the industry.
Advertising production also provides consistent revenue to studios. Advertisements use audio production studios to edit and master audio, which could include music, spoken word or both, that synchronizes with the video content of a commercial. It is forecasted that total advertising expenditure to rise an annualized 5.8% over the next five years.