APAC Independent Artist Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | 3.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Independent Artist Market Analysis
The Asia-Pacific Independent Artist Market is expected to register a CAGR of 3.40% during the forecast period(2024-2029).
The COVID-19 pandemic had a big effect on many industries around the world, including the Asia-Pacific Independent Artist Market. The pandemic caused problems in supply chains, distribution channels, and consumer demand. This led to a drop in economic activity and income for many businesses, including independent artists. One of the biggest effects of the pandemic on the Asia-Pacific independent artist market was the cancellation or postponement of live events, concerts, and festivals, which are a big source of income for many artists. Because of social isolation and other steps taken to stop the virus from spreading, many artists were not able to perform in front of live audiences, which cost them money and opportunities.
The Asia-Pacific independent artist market is made up of independent artists and creative professionals who make and sell their work. It is a dynamic and diverse industry. The market includes a wide range of industries, such as music, film, visual arts, literature, and performing arts. The region has a rich cultural history and a diverse population, which has given independent artists the chance to make and share content that is unique and important to the culture. The region also has a growing middle class, which has made people want more entertainment and fun things to do, such as independent art and creative works.
APAC Independent Artist Market Trends
Increased in Usage of Digital Media and Tools
Digital distribution is a significant trend in the Asia-Pacific independent artist market. It refers to distributing creative content, such as music, film, visual arts, literature, and performing arts, through digital platforms and tools. Digital distribution has revolutionized how independent artists and creative professionals distribute and monetize their work, allowing them to reach wider audiences and generate revenue without the need for traditional intermediaries.
One of the best things about digital distribution is that it makes it easy for independent artists to get their music out there. With more digital tools and platforms becoming available, artists can create and share their work faster and cheaper than ever. For example, artists can use home recording software to record and produce their music and share it online through services like Spotify, Apple Music, or YouTube. Digital distribution also enables artists to target and engage with specific audiences. Through digital platforms, artists can use targeted advertising and data analytics to identify and reach their desired audience, which can lead to increased engagement and revenue.
However, digital distribution also presents challenges for independent artists. The vast number of digital platforms and tools can make it difficult for artists to choose the best distribution channels for their work. Additionally, digital piracy and copyright infringement can undermine digital content's value and harm independent artists' revenue. Overall, digital distribution is a significant trend in the Asia-Pacific independent artist market, and its continued growth and evolution are likely to shape the industry in the coming years.
India's fastest-growing in the Music Industry
In India, independent music has flourished since the lockdown brought about by the pandemic. The quantity of songs and musicians on streaming services has increased dramatically. India's fastest-growing streaming category, according to Spotify, is independent music. Over the past year, the number of followers on Indie India, a Spotify playlist featuring independent music, has increased by 200% to 2.5 lakh.
One major factor contributing to this change is the emergence of digital music streaming services. These platforms provided independent musicians with a much-needed alternative to major record labels or producers.
Snap establishes an India creator fund on its platform for independent musicians. Through the fund, the company will give up to USD 50,000 in monthly grants to independent, up-and-coming artists. Through the digital music distribution service DistroKid, musicians can share their licensed music with social media apps like Instagram and Snapchat as well as streaming services like Spotify and Apple Music.
APAC Independent Artist Industry Overview
The Asia-Pacific independent artist market is fragmented. This is because the region is incredibly diverse and comprises many different countries, cultures, and languages. There are numerous independent artist markets throughout the region, each with its own unique characteristics and specialties. These markets may cater to specific types of art, such as traditional crafts, contemporary art, or street art. Additionally, the markets may be located in different types of settings, such as urban centers or rural areas, further adding to their diversity. Some major players in the market are Art Stage Singapore, Hong Kong Art Basel, Tokyo Art Fair, Jakarta Contemporary Art and Design Fair, and Singapore Art Museum.
APAC Independent Artist Market Leaders
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Art Stage Singapore
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Hong Kong Art Basel
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Tokyo Art Fair
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Jakarta Contemporary Art and Design Fair
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Singapore Art Museum
*Disclaimer: Major Players sorted in no particular order
APAC Independent Artist Market News
- April 2023: The high-profile film and TV production facilities Iskandar Malaysia Studios were sold to Singapore's GHY Culture & Media. GHY paid RM8.8 million ($1.98 million) for an 80% stake in Studio Management Services, an investment company, to RK Media Ventures Sdn Bhd and CL Media Holdings.
- March 2023: Art Basel prepared to open the 10th in-person edition of its fair in Hong Kong, it's largest since the COVID-19 pandemic began, behind the scenes the art fair group is sizing up additional revenue streams beyond its four flagship events, especially in Asia.
APAC Independent Artist Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Industry Value Chain Analysis
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4.5 Industry Attractiveness - Porter's Five Forces Analysis
- 4.5.1 Bargaining Power of Buyers
- 4.5.2 Bargaining Power of Suppliers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights into Technological Innovations in the Market
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Art Medium
- 5.1.1 Painting
- 5.1.2 Sculpture
- 5.1.3 Printmaking
- 5.1.4 Music
- 5.1.5 Digital Media
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5.2 By Genre
- 5.2.1 Abstract Art
- 5.2.2 Landscape Art
- 5.2.3 Figurative Art
- 5.2.4 Street Art
- 5.2.5 Pop Art
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5.3 By Customer Type
- 5.3.1 Individual Collectors
- 5.3.2 Corporate Collectors
- 5.3.3 Art Galleries
- 5.3.4 Museums
- 5.3.5 Interior Designers
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Art Stage Singapore
- 6.2.2 Hong Kong Art Basel
- 6.2.3 Tokyo Art Fair
- 6.2.4 Jakarta Contemporary Art and Design Fair
- 6.2.5 Singapore Art Museum
- 6.2.6 National Museum of Modern and Contemporary Art, Korea
- 6.2.7 Sydney Contemporary
- 6.2.8 Art Jakarta
- 6.2.9 Asia Art Archive
- 6.2.10 Biennale of Sydney
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
APAC Independent Artist Industry Segmentation
An independent artist is a creative person who makes and sells their own work without the help of a big media or entertainment company.Independent artists can come from a variety of creative fields, such as music, art, film, writing, and more. A complete background analysis of the Asia Pacific independent artist market is covered in the report, which includes an assessment of the economy, a market overview, market size estimation for key segments, emerging trends in the market, market dynamics, and key company profiles.
The Asia-Pacific Independent Artist Market is Segmented by Art Medium (Painting, Sculpture, Printmaking, Music, and Digital Media), Genre (Abstract Art, Landscape Art, Figurative Art, Street Art, and Pop Art), and Customer Type (Individual Collectors, Corporate Collectors, Art Galleries, Museums, and Interior Designers). The Report Offers Market Size and Forecasts for the Asia-Pacific Independent Artist Market in Terms of Transaction Volume and/or Revenue (USD) for all the Above Segments.
| By Art Medium | Painting |
| Sculpture | |
| Printmaking | |
| Music | |
| Digital Media | |
| By Genre | Abstract Art |
| Landscape Art | |
| Figurative Art | |
| Street Art | |
| Pop Art | |
| By Customer Type | Individual Collectors |
| Corporate Collectors | |
| Art Galleries | |
| Museums | |
| Interior Designers |
APAC Independent Artist Market Research FAQs
What is the current Asia-Pacific Independent Artist Market size?
The Asia-Pacific Independent Artist Market is projected to register a CAGR of 3.40% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Independent Artist Market?
Art Stage Singapore, Hong Kong Art Basel, Tokyo Art Fair, Jakarta Contemporary Art and Design Fair and Singapore Art Museum are the major companies operating in the Asia-Pacific Independent Artist Market.
What years does this Asia-Pacific Independent Artist Market cover?
The report covers the Asia-Pacific Independent Artist Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Independent Artist Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Independent Artist Industry Report
Statistics for the 2024 Asia-Pacific Independent Artist market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Independent Artist analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
