site.btaBulgarian Music Market Shows Double-Digit Growth, Study Finds

The Bulgarian music market is growing at double-digit rates, according to a new national study on the state and development of the country’s music industry, which will be presented on February 24 in Sofia.

The research was commissioned by the Association of Independent Music Publishers and Producers and carried out by Kantar through a nationally representative consumer survey of people aged over 15, expert interviews with leading industry professionals and specialists in finance and copyright, as well as analysis of public documents, reports, and statistical data, the Association said.

The findings show that live music generates more than half of the sector’s economic value, with concerts forming the backbone of Bulgaria’s music market.

According to the study, the Bulgarian music industry is developing faster than publicly reported. With targeted and coordinated policies, the country could triple its international music potential. The research concludes that the issue is lack of coordination, not lack of potential, as Bulgarian music has the resources for strong global growth.