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The U.S. recorded music industry grew its revenue by 8% in 2023, reaching an all-time high of $17.1 billion and marking eight consecutive years of growth. However, there’s no question that the ...
While 2021 saw an 18.5% growth, largely due to an increase in streaming numbers as the world waited at home for the pandemic to lift, a […] Global Music Revenue Growth Slowed in 2022, But Still ...
The global music industry surpassed 4 trillion streams in 2023, a new single-year record, Luminate’s 2023 Year-End Report found. Global streams were also up 34% from last year, reflective of an ...
The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year.
Record sales or music sales are activities related to selling music recordings (albums, singles, or music videos) through physical record shops or digital music stores. [ 1 ] [ 2 ] [ 3 ] Record sales reached their peak in 1999, when 600 million people spent an average of $64 on records, achieving $40 billion in sales of recorded music.
The early years of the decade presented challenges for the music industry, as the COVID-19 pandemic led to widespread concert cancellations due to health concerns. By mid-2023, the industry recorded its highest annual revenue to date ($8.4 billion), partly due to the growth of streaming subscriptions.
Today we release recorded music revenue data for 2022 showing a seventh straight year of continued growth – powered by a robust 8% increase in paid subscription streaming revenues which now make ...
The music industry refers to the individuals and ... or hourly rate) ... and Digital Track sales growth of 5.1%, whereas Physical Music sales decreased by 12.8% ...