BTS Is The Top Artist In The World As Recorded Music Revenues Rise To $25.9 Billion
- Asia saw 16.1% growth, with Japan being the largest market. Japan experienced 9.3% growth. With Japan excluded, the region saw a 24.6% rise in revenues. Asia continued to account for a large share of the global tangible revenues (49.6%).
- Australasia recorded 4.1% growth. Australia (up 3.4%) remained a top-10 global market, and New Zealand saw a rise of streaming revenues propelling the overall market growth to 8.2%.
- Europe is the second largest region for recorded music worldwide. The 15.4% increase in revenues was a sharp increase over the 3.2% rate in the previous year. All of Europe’s major markets experienced double-digit percentage growth, with the U.K. up 13.2%, Germany (up 12.6%), and France (up 11.8%).
- Latin America saw 31.2% growth – one the highest rates of global growth. Streaming made up 85.9% of this market, the largest share in any region.
- Middle East and North Africa saw growth of 35.0%, the fastest rate of regional growth globally. Streaming was a major driver in this region with a 95.3% of the market.
- Sub-Saharan Africa – also separated for the first time in IFPI Reporting – saw revenue growth in 2021 of 9.6%, largely due streaming. The region’s revenues from advertising-supported media grew 56.4%, with this format accounting for 56.4% of the total.
- The USA & Canada region grew at 22.0% in 2021. This is higher than the global rate of growth. The USA market saw a 22.6% increase, and Canadian recorded music revenues rose by 12.6%.
Frances Moore, CEO at IFPI, addressed a London press conference to announce his report. He stated that he was concerned about the events in Ukraine and the resulting humanitarian crises and that IFPI stood with all music professionals in their support of urgent humanitarian aid for refugees.
Moore said that the report was a good example of how record companies can engage at the local level. They support music cultures and encourage the development emerging music ecosystems. It is promoting local music and creating global opportunities. As markets mature, more record companies will join and contribute to the rich, global interconnected music world.
“The music industry today is among the most competitive I’ve ever seen. Fans are listening to more music than ever, and they’re doing it in new and innovative ways. This presents artists with a wealth of possibilities. Partnering with a record label allows artists to access the support of global, agile teams of experts that are available to help them succeed in commercial and creative areas and to build long-term careers.
“As the internet and technology evolve, so does the opportunity to share music experiences. Record companies have invested heavily in the people and technology to provide interactive experiences in all areas, including the metaverse and in-game content. This is adding to the growing ways that artists can connect with their fans.
<< Previous
