The global music retail market is experiencing an unprecedented boom. A recent forecast report released by market research consulting firms indicates that the global music retail market is set to see its tenth consecutive year of growth, marking a complete reversal of the downward trend that began at the turn of the century.

It is noteworthy that the development prospects of the Chinese music market are very optimistic, with predictions of a doubling in sales over the coming years. The report suggests that with the proliferation of streaming platforms, the recovery of the physical music market, and the widespread application of digital technologies such as artificial intelligence, blockchain, and virtual reality (VR), the global music retail market, particularly key markets including China, will continue to maintain strong growth momentum.

In recent years, the global music retail market has continued to grow and diversify. On one hand, the widespread adoption of streaming platforms such as , , and has become a major driving force behind the growth in music retail. On these platforms, users can access vast music libraries with unlimited access for a relatively low monthly fee (usually a fixed price), without the need to purchase individual tracks or albums. This model has significantly enhanced the convenience and flexibility of music consumption, making streaming the preferred method for music enthusiasts, especially younger consumers, to access music.

Additionally, the subscription-based business model introduced by streaming platforms has reduced the volatility that once relied on one-time purchases, providing the industry with a stable source of revenue. According to a report released by the International Federation of the Phonographic Industry (IFPI), streaming services are gradually becoming the main source of revenue for the global music market. Data shows that by the end of the year, the number of paid subscribers to music streaming services had exceeded 500 million; subscription streaming revenue grew by 18.5%, accounting for 62.1% of the global music market.

On the other hand, despite the unstoppable growth of digital music, the physical music market has not disappeared. The sales of physical products such as vinyl, cassettes, and Blu-rays have shown a surprising revival trend in recent years. This indicates that even in an era of highly developed digital technology, physical music still possesses unique charm and market space. For example, vinyl records have seen a resurgence as some collectors and audiophiles, in pursuit of high sound quality and nostalgia, have re-engaged in the purchase of this classic music medium. Many young consumers have also shown a strong interest in this "retro" format.

With the further popularization of streaming, consumer demand for music formats is becoming increasingly diverse, and the global music retail market is showing unprecedented vitality. The latest forecast report indicates that global music retail sales will continue to rise, reaching billions of dollars by the end of the year, surpassing the billions of dollars mark in the following year, and further increasing to billions of dollars by the year . Subscription revenue from streaming platforms represented by , , and is expected to grow from billions of dollars in to billions of dollars in , an increase of .%, and is projected to exceed billions of dollars by , with a compound annual growth rate of .%.

Additionally, it is predicted that the sales revenue of China's music retail market will increase from $X billion in Year X to $Y billion in Year Y, with an annual growth rate of X.X%. Given the large user base, the rapid rise of streaming platforms, and the increasing willingness of consumers to pay, the Chinese music market is expected to become a key driving force in the global music industry.

China is one of the largest internet user markets in the world. According to the latest "Statistical Report on the Development of China's Internet Network" released by the China Internet Network Information Center, as of [month and year], the number of internet users in China has reached nearly 1 billion, an increase of 10 million compared to [month and year], with an internet penetration rate of 70.4%. The widespread coverage of the internet, coupled with the popularity of 4G and 5G networks, has enabled more and more Chinese users to access music streaming services anytime and anywhere through smartphones.

At the same time, domestic music streaming platforms in China such as QQ Music and NetEase Cloud Music not only offer a rich array of music resources but also continuously enhance user engagement through social features and personalized recommendations. These platforms, integrating functions such as listening to music, interaction, and membership services, significantly increase user stickiness. Users can not only listen to the latest popular music but also interact with musicians through methods like tipping and commenting, jointly constructing a vibrant music ecosystem.

Currently, the global music market is undergoing an unprecedented wave of digital transformation. From the rise of streaming platforms to the widespread application of artificial intelligence, blockchain, and virtual reality technologies, digital technologies are redefining the production, dissemination, and consumption of music. Technological innovations are not only changing the way music is disseminated but also profoundly impacting music creation, consumption, and business model transformation, injecting new vitality and growth momentum into the global music market.

Artificial intelligence can provide personalized music recommendations, bringing convenience to users while also offering new tools for precise marketing and promotion of works for musicians and record companies. Blockchain technology helps safeguard the rights of music creators, strengthens music copyright protection, and optimizes royalty distribution. Virtual reality and augmented reality technologies have also been introduced into the music consumption field, which can effectively enhance stage effects, improve overall viewing experiences, and shape interactive methods in the music market through immersive experiences.