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The beginning of the 2020s decade was a difficult time for the music industry, as the COVID-19 pandemic resulted in widespread concert cancellations due to risks of mass infection. However, by mid-2023, the music industry recorded its highest annual revenue of all time ($8.4 billion), propelled by increased growth of streaming subscriptions.
The U.S. recorded music industry grew its revenue by 8% in 2023, reaching an all-time high of $17.1 billion and marking eight consecutive years of growth. However, there’s no question that the ...
Keith Urban thinks Taylor Swift is finally getting her "Karma.". While she may be one of the biggest names in the music industry now, Urban knows it wasn't always that easy for Swift, 34, who has ...
The main branches of the music industry are the live music industry, the recording industry, and all the companies that train, support, supply and represent musicians.. The recording industry produces three separate products: compositions (songs, pieces, lyrics), recordings (audio and video) and media (such as CDs or MP3s, and DVDs).
The United States has remained the biggest market for recorded music in IFPI history, except in 2010 when Japan topped the list. The largest Asian music market, Japan has always stayed within the top two. The other largest music markets by region include the United Kingdom in Europe, Australia in Oceania, and Brazil in South America.
The global music industry surpassed 1 trillion streams at the fastest pace, ever, in a calendar year, Luminate’s 2024 Midyear Report has found. The number was reached 10 days faster than in 2023 ...
Latin music revenue in the United States outpaced the general music market for a second consecutive year, hitting a new high of $1.4 billion and representing 16% growth over 2022. The Recording ...
Numerous music events, including music festivals, concert tours, and award shows, have been cancelled or postponed. While some musicians and composers were able to use the time to create new works, there were flow-on effects on the many supporting people who relied on performers for their income. [ 1 ]