In 2024, the total value of the Finnish music industry reached 1.4 billion euros, reflecting a 9 percent increase compared to the previous year. This figure includes both the core sectors—live music, copyright royalties, recordings, and industry subsidies—and the broader field of music education. The combined value of the core sectors amounted to 932 million euros, while music education contributed an estimated 481 million euros.
The main driver of the industry's growth in 2024 was the live music sector, which benefited for example from several large-scale concerts. The total value of the live music sector rose to 655 million euros, representing a 17 percent increase from the previous year. Of this total, 415 million euros came from the private sector, including clubs, concert venues, festivals, and other major events. The public sector contributed 239 million euros, covering symphony orchestras, the National Opera and Ballet, church music, and military bands.
The recording sector also experienced growth, with its retail sales increasing by 9 percent to a total of 134 million euros.
Copyright royalties rose by 8 percent, reaching a value of 122 million euros.
Public and private funding remained stable at 37 million euros overall; however, there was a notable shift within the sector, as public funding decreased by 17 percent, resulting in a relatively greater share of private funding.
In total, the value of the core sectors of the music industry in 2024 was 932 million euros.
In addition to the core sectors, music education continues to play a significant role in the overall valuation of the music industry. Its estimated value in 2024 is 481 million euros, based on data from 2023 and 2024. This figure will be updated retroactively once complete data for 2024 becomes available. Music education has shown steady growth in recent years, with values of 478 million euros in 2023, 465 million euros in 2022, and 456 million euros in 2021.
The overall value of the Finnish music industry is primarily based on reports published by umbrella organizations within the industry. However, to make the sector values comparable, some revenue streams have been converted into consumer values—that is, the prices paid by consumers for live music events or recordings, and fees paid by music users as royalties, including VAT where applicable.
Payments from one industry sector to another, such as copyright royalties for live music, are included in both sectors, but double-counting has been subtracted from the overall value.
Live music is divided into two categories: the private sector and the public sector. The private sector (416 million euros in 2024) includes clubs, stage performances, concerts, festivals, and other events and was estimated based on the copyright royalties collected by Teosto. These royalties constitute approximately 3.5 percent of overall ticket sales, which account for about 70 percent of the total turnover from live music events. The public sector amounts to 239 million euros (2024) and includes symphony orchestras, opera and ballet, military music, and church music.
The value of the recorded music industry (134 million euros in 2024) is based on statistics for the wholesale value (83 million euros in 2024), provided by Musiikkituottajat – IFPI Finland. The consumer value (including the retail sales margin and VAT) is estimated to have grown in the same proportion (+4%) as the wholesale value compared to the previous year.
Copyright revenues are collected by the Finnish Composers’ Copyright Society Teosto (90 million euros in 2024), and Gramex – the copyright society for performing artists and producers of phonograms in Finland (29 million euros in 2024). These collections are then distributed to the rights holders of musical works and recordings. Additionally, overall copyright revenues include direct licensing and sheet music sales by the Finnish Music Publishers Association, totaling almost 8 million euros in 2024. Payments within the sector have been subtracted from the sector’s total value.
Private foundations, together with public sector organizations, provide grants and subsidies to music professionals and organizations, totaling 37 million euros in 2024. Of this, 17 million euros originated from the public sector, mainly through the Arts Promotion Centre Finland and the Ministry of Education and Culture. Additionally, other government sectors and municipalities also contribute to subsidizing the music field. Private support (21 million euros in 2024) includes contributions from major private foundations and the Finnish Music Foundation.
The value of music education is estimated by gathering financial data from all levels of music education, from schools to doctoral studies. The overall assessment is based on information about the structure and operators of training, with sub-sectoral data collected using available background information and methods. At the time of publication of this study, data is reliably available for 2023 and only partially for 2024. Therefore, some 2023 data has been used in this study, with updates planned once complete 2024 statistics are released.
The combined value of music education in 2023 was 478 million euros, with an estimated value of 481 million euros for 2024.
The calculation includes the following areas:
- Vocational education and training — turnover data collected from educational institutions
- Universities of applied sciences — based on data from six institutions offering education and research in music, music education, and musicology
- Universities and higher education — data collected from six universities that teach and research music, music education, and musicology
- Primary and secondary school — estimate based on the share of music lessons and total education expenditure
- Basic education in the arts — data collected from the Finnish National Board of Education's reports
- Liberal adult education — estimate based on reports on music lessons in select institutions and the total expenditure of these institutions
- Other business — calculated using Statistics Finland's turnover data, with the music-related share estimated from prior studies