How much revenue does the music industry make?
Global revenue of the recorded music industry 1999-2020 In 2020, the total revenue of the recorded music industry amounted to 23.1 billion U.S. dollars. Streaming made up 56 percent of this figure, bringing in 11.9 billion dollars globally.
How much is the US music industry worth 2020?
United States recorded music revenues grew 9.2% in 2020 to $12.2 billion at estimated retail value. This is the fifth consecutive year of growth for the industry, as paid subscription services continued to be the primary driver of revenue increases, and reached a record number of subscriptions.
How much is the USA music industry worth?
Recorded music revenue has hovered between 4.6 and 4.9 billion U.S. dollars since 2009, however in 2021 revenues surged to eight billion, a significant increase on previous years.
How much is the record label industry worth?
Is the music recording industry growing? After nearly two decades of piracy-driven declines, the global music recording industry’s revenue bottomed out at $14 billion in 2014. Since then, due in large part to streaming, revenue has grown to $20 billion in 2019, back in line with 2004 levels.
What is the largest source of revenue for the music industry?
Music industry revenue distribution worldwide 2020, by source. In 2020, streaming accounted for 62.1 percent of total global recorded music revenue, of which 46 percent was attributed to subscription audio streams and 16.2 percent to ad-supported streams.
How much money does the music industry make 2021?
The IFPI revealed these and other noteworthy stats in its newly published Global Music Report. Per the document, the worldwide recorded music industry generated $25.9 billion in 2021 (up 18.5 percent YoY, as mentioned), compared to an originally reported $21.6 billion (and 7.4 percent YoY growth) in 2020.
How much do 2020 artists make?
Individually, artist streaming royalties increased a whopping 82% year to year, from $106 million to $193 million, and accounted for just under 50% of the top 40 Money Makers’ total income. Sales royalties, digital and physical, were also up 39%, from $42 million to $59 million; a trend that continues so far this year.
Why is the US music market so big?
According to Citigroup, this growth is primarily driven by the surge of performance royalties, connected to the rise of streaming. Summarizing the cash flows of recording, live and publishing segments, total revenue of the U.S. industry can be put at around $20 billion.
Is the music industry dying?
The Covid-19 pandemic has shattered the music industry. By taking away live music for what will likely be 18 months or more, Covid has ended the revenue stream that animated an entire music ecosystem. This is particularly true for independent artists with few other means of making a living in today’s industry.
How much is the recorded music industry worth?
Here’s the headline, folks: The US recorded music industry generated USD $14.99 billion in 2021 – its biggest annual tally in history. That stat, revealed today by MBW, comes from RIAA annual year-end data, and was up by a whopping 23% (or by $2.85 billion) on the equivalent figure from 2020 ($12.14bn).
Which is the biggest music market in the world?
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