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Music genres shape where money flows

Media Trends Executive

A bar chart shows the U.S. share of total album equivalent consumption by format for various music genres in 2025. Overall, the industry sees 91% on-demand consumption. Most genres follow that trend, with jazz seeing the most physical consumption at 22%.

U.S. share of total album equivalent consumption by format, 2025

Adapted from Luminate; Chart: Sara Wise/Axios

Superfan economy drives modern music careers

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Music streaming payouts are still dominated by top artists

Music catalog sales surge as investors seek steady returns

A line chart depicting the ratio of average sale prices to revenue for music catalogs from 2006 to 2029. The ratio peaked at around 16x in 2018 and has generally declined since. It is projected to stabilize at approximately 15.1x by 2029.

Music catalogs' ratio of average sale prices to&nbsprevenue

Data: Shot Tower Capital; Note: Excludes 10 sales of catalogs valued over $200m; Chart: Erin Davis/Axios Visuals

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