And Moore took a moment to put the historical trend in perspective.

The 2021 results exceeded the highest previous totals ever reported by IFPI - a tally of $24.1 billion in 1991. “As more markets mature, they join with and contribute to the rich, globally interconnected music world.” “Around the world record companies are engaging at a very local level to support music cultures and bring on the development of emerging music ecosystem,” said Moore, in announcing the latest global numbers. The multinational music groups, seeking to maximize their access to local artists and propel local talent to global audiences, have steadily increased their presence in regions they previously did not prioritize. But local artists in each market -Yung Hurn from Germany, Anitta from Brazil, Burna Boy from Nigeria and many others - have broken the long dominance of Anglo-American repertoire on the world stage. On IFPI’s global top 10 albums chart, it’s no surprise that Adele is No. 1. All have primary responsibility for markets outside the United States, the territories that account for the overwhelming majority of the world’s recorded-music sales. Streaming now accounts for a startling 65% of global music sales, according to IFPI.īillboard’s 2022 International Power Players - nominated by their firms and peers and chosen by our editors from selected industry sectors - have contributed to that growth. The results were driven largely by a 21.9% jump in paid streaming subscription revenue.

Following the invasion of Ukraine in late February, numerous music companies - including the three multinational music groups, Live Nation, Spotify and YouTube - have announced the suspension of operations in Russia.Īt the unveiling of its annual report, IFPI noted that global recorded-music revenue reached $25.9 billion in 2021, an 18.5% increase over 2020 and the highest level ever reported by the trade organization. No report on the global music business can begin without an acknowledgement of the toll of the war, which has also affected the industry. Why Artists Like Pusha T and Nigo Trust Manager Steven Victor's Vision

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