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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.
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 ).
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 2020, the global pandemic dealt a significant blow to the live music industry, with many public companies losing more than half their market value. However, venues have since reopened, and live ...
The U.S Latin recorded-music industry posted record revenue of $685 million, marking significant growth in physical sales and strong streaming numbers, according to the RIAA’s mid-year Latin ...
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.
By 1999, the CD accounted for 87.9% of the entire market share in regard to music sales. [144] Since the 20th century, live music can be broadcast over the radio, television or the Internet, or recorded and listened to on a CD player or MP3 player.
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 ...