3/14/2023 0 Comments Mp3 gain good level 2019“As music markets continue to develop and evolve, it is imperative that the appropriate legal and business infrastructure is in place to ensure that music is fairly valued, and that the revenues are returned to rights holders to support the next cycle of development. “Record companies continue their investment in artists, people and innovation both in established markets and developing regions that are increasingly benefitting from being part of today’s global music landscape. The Asia and Australasia region (+11.7%) grew to become the second-largest region for combined physical and digital revenue, with especially strong growth in South Korea (+17.9%).įrances Moore, chief executive of IFPI, said: “Last year represented the fourth consecutive year of growth, driven by great music from incredible artists in partnership with talented, passionate people in record companies around the world. For the fourth consecutive year, Latin America was the fastest-growing region (+16.8%) with Brazil (+15.4%) and Mexico (+14.7%) growing strongly. Record company-driven investment, innovation and partnerships are supporting artists to connect with fans around the world whilst also yielding dynamic growth in high-potential markets. Growth in streaming more than offset a 10.1% decline in physical revenue and a 21.2% decline in download revenue. There were 255 million users of paid streaming services at the end of 2018 accounting for 37% of total recorded music revenue. Streaming revenue grew by 34.0% and accounted for almost half (47%) of global revenue, driven by a 32.9% increase in paid subscription streaming. Figures released today in IFPI’s Global Music Report 2019 show total revenues for 2018 were US$19.1 billion. The global recorded music market grew by 9.7% in 2018, the fourth consecutive year of growth.
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