Key Market Indicators
In 2021, Cypriot Music Revenue decreased to zero from €0.1 million in 2020, a 100% year on year decline. Since 2013, the music industry in Cyprus was down by 100%. By 2026, music expenditure in Cyprus is expected to reach nearly one billion euros, growing by 0.5% year on year on average. Since 2000, the demand for music in Cyprus has dropped by 1.5% each year. In 2021, the country was ranked 32nd in the world, with Luxembourg having overtaken it with €877.41 million. Germany, France and Italy took the second, third and fourth spots respectively in the global ranking.
