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The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year.
Record sales or music sales are activities related to selling music recordings (albums, singles, or music videos) through physical record shops or digital music stores. [ 1 ] [ 2 ] [ 3 ] Record sales reached their peak in 1999, when 600 million people spent an average of $64 on records, achieving $40 billion in sales of recorded music.
In the early 21st century, tour revenue skyrocketed as record sales collapsed and musicians began relying on live shows for their income. [4] The first tours to surpass $100 million in revenue, according to reports, were Michael Jackson's Bad World Tour and Pink Floyd's A Momentary Lapse of Reason Tour, both of which ran from 1987 to 1989.
Meanwhile, many promoters left the industry after getting clobbered by the pandemic, which shut down or restricted many live events. Some smaller music artists have also been hurt by the lack of ...
Taylor Swift made up 1.7% of the entire U.S. recorded-music market in 2023, according to the year-end report from Luminate, the industry data partner formerly known as SoundScan. The news does not ...
But experts say recent economic trends in the live-music industry, especially the type of consolidation the Justice Department is now targeting, have translated into fewer smaller-sized venues.
As of 2010, big-box stores such as Wal-Mart and Best Buy sell more records than music-only CD stores, which have ceased to function as a major player in the music industry. Music-performing artists now rely on live performance and merchandise sales (T-shirts, sweatshirts, etc.) for the majority of their income, which in turn has made them more ...
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 ...