World music market grew by 18.5% in 2021, pushed by paid subscription streaming

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World music market grew by 18.5% in 2021, pushed by paid subscription streaming
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Read IFPI’s World Song Represent 2022 – Express of the Industry here

22nd March 2022 – The global recorded music market grew by 18.5% in 2021, pushed by boost in paid subscription streaming, in accordance with IFPI, the organisation that represents the recorded music industry worldwide. Figures launched this day in IFPI’s World Song Represent present total revenues for 2021 were US$25.9 billion.

Paid subscription streaming revenues elevated by 21.9% US$12.3 billion.  There had been 523 million users of paid subscription accounts on the highest of 2021.

Total streaming (together with each paid subscription and selling-supported) grew by 24.3% to prevail in US$16.9 billion, or 65.0% of total global recorded music revenues. Besides streaming revenues, boost became once supported by positive aspects in utterly different areas, together with bodily codecs (+16.1%) and efficiency rights (+4.0%).

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Sage companies are working to pressure this persevering with boost for the broader music ecosystem.  With local groups and abilities across the globe, they make investments in local artists and genres and enhance their trend. In excessive-doable boost markets across Asia, Latin The United States and Africa, in addition to extra historical markets, take care of Europe and North The United States, labels are striking down deep roots and serving to to foster the persevered trend of brilliant and numerous local music ecosystems. 

Opening a press conference in London to unveil the document, IFPI Chief Executive Frances Moore expressed arena referring to occasions in Ukraine and the resulting humanitarian disaster, announcing: “IFPI stands with our colleagues across the music community in our enhance for urgent humanitarian reduction for refugees and our demand an almost about the violence.”

Commenting on the World Song Represent, Moore persevered: “Round the arena, record companies are taking part at a extraordinarily local level, to enhance music cultures and bring on the enchancment of rising music ecosystems – championing local music and creating the alternatives for it to prevail in a global target market. As extra markets historical, they be half of with and make contributions to the prosperous, globally interconnected music world.

“Which skill that, this day’s music market is in reality the top in reminiscence.  Followers are having fun with extra music than ever and in so many utterly different and current programs.  This creates large alternatives for artists. Those that bewitch to companion with a record company, pause to be capable to safe the profit of the enhance of agile, highly responsive global groups of consultants dedicated to serving to them make creative and industrial success and build their prolonged-time-frame careers. 

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“As applied sciences and the fetch environment proceed to conform and magnify, so too pause the creative alternatives to portion music experiences.  From the metaverse, to in-sport advise material,

record companies safe invested in the folk and the applied sciences to bring current, highly interactive experiences – adding to the evolving programs for artists to contain connections with their fans.”

Converse on this planet’s utterly different regions:

Recorded music revenues grew in every location across the arena in 2021:

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  • Asia grew by 16.1%, with its largest market, Japan, seeing boost of 9.3%. Besides Japan the placement experienced a 24.6% climb in revenues. In a continuous pattern, Asia also accounted for an even portion of the worldwide bodily revenues (49.6%).
  • Australasia experienced boost of 4.1%. Australia (+3.4%) remained a top 10 market globally and Novel Zealand saw a upward push in streaming revenues push the total market to spice Up of 8.2%.
  • Revenues in Europe, the second-largest recorded music location on this planet, grew by 15.4%, a steep amplify on the prior year’s boost rate of 3.2%. The placement’s greatest markets all saw double digit proportion boost: UK (+13.2%), Germany (+12.6%) and France (+11.8%).
  • Latin The United States saw boost of 31.2% – one among one of the best boost charges globally. Streaming accounted for 85.9% of the market, one among one of the best proportions in any location.
  • Center East and North Africa – split out as a separate location in the World Song Represent for primarily the most valuable time – experienced boost of 35.0%; the quickest regional boost rate globally. Streaming became once a in particular solid driver in the placement, with a 95.3% portion of the market.
  • Sub-Saharan Africa – also split out for primarily the most valuable time in IFPI’s reporting – saw earnings boost of 9.6% in 2021, largely pushed by streaming. Ad-supported became once in particular solid in this location, with revenues from this format growing by 56.4%.
  • The USA & Canada location grew by 22.0% in 2021, outpacing the worldwide boost rate. The United States market on my own grew by 22.6% and Canadian recorded music revenues grew by 12.6%.

ENDS

Notes to editors:

Obtain the free World Song Represent 2022 – Express of the Industry document (English language) here.

IFPI World Song Represent 2022: Fats Represent with Recordsdata and Evaluation: Buy the elephantine files and evaluation document here.

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About IFPI

IFPI is the recount of the recording industry worldwide, representing over 8,000 record company contributors across the globe. We work to advertise the stamp of recorded music, marketing campaign for the rights of record producers and magnify the industrial makes exercise of of recorded music across the arena.

For additonal knowledge please contact:

press@ifpi.org | +44 (0)20 7878 7979

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