This year’s Music By Numbers report reveals the industry is worth an amazing £5.2 billion to the economy and the live music sector is breaking the £1 billion barrier. Types Of Crimes By Number Of Offenses In The US. Downloading music, both legally and illegally, is impacting on artists and changing the face of the music industry completely. As all financial data is given in US dollars annual rates of change for all countries other than the United States are heavily influenced by exchange rate fluctuations as well as by actual changes in revenue in local currency terms. The global music streaming market size was valued at USD 20.9 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 17.8% from 2020 to 2027. The younger generation is attracted to digital music while the average age for those buying physical music is 46. Music Streaming Market Share, Size, Trends, & Industry Analysis Report 2019-2026 Product Code: RP-ID-10307096; Published Date: 22 Apr 2020 ; Region: Global; Pages: 140; Category: ICT & Telecom; Publisher: Pub-ID-41; Description; Table of Contents; Companies Mentioned; Request Sample; Custom Report; Impact Analysis on the Growth of Market . Within the digital market (+1.1%), revenue from streaming now exceeds that from download purchases. Industry leaders have warned that the closure of music venues and the impact of social distancing restrictions on the music industry has been catastrophic, and the industry will need support to get back on its growth course. The rise of Berlin as a music center has aided the growth of the industry and propelled it to surpass the UK. This article discusses the largest music industries in the world. 85% of the projected revenue has been lost. The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The Music Industry Concentration is designed to acquaint students with the concepts and methodologies of the music industry; to give students an introduction to digital music production technology; to provide specialized career preparation for the contemporary music profession; and to focus on the legal, financial, and ethical aspects of a career in music. , Source: Figures within the table are based on IFPI 2013 annual report. Source: Figures within the table are based on IFPI 2010 annual report. Understanding the Music Industry is a series that outlines the framework of the business, explaining the roles of the industry professionals, what their jobs entail, when it’s important to involve them and deal specifics that you want to be aware of. Studies into the venue based live music industry (predominantly clubs and pubs) have found this sector injects $1.2 billion ann… “Our music industry is a key national asset,” said Njoku-Goodwin. Source: Figures within the table are based on IFPI 2005 annual report, except where noted below. Source: Figures within the table are based on IFPI 2006 annual report, except where noted below. The U.S. music market seems to be utterly reliant on streaming as the music consumption medium. All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com.  Total units figures are derived by addition of figures reported by referenced sources. Live performance is vital to the music sector, both in reaching audiences and generating income. Source: Figures within the table are based on IFPI 2008 annual report, except where noted below. Music Distribution Services Industry Size 2019, Market Opportunities, Share Analysis up to 2025. The industry is characterized by live concerts, studio recordings, and a variety of music genres. The industry witnessed an increase in streaming and digital music consumed by youth people with the service recording 26.6 billion streams. Source: Figures within the table are based on IFPI 2004 annual report, except where noted below. , Source: Figures within the table are based on IFPI Grobal music report 2017. Some of the first recorded sounds were recorded in front of a stunned audience in 1877 by Thomas Edison. It’s still a small portion of the $15 billion recording industry, but it also isn’t just a blip on the radar anymore. It was predicted that 2020 was going to bring in billions of profits but with venues shut down and lockdown measures in place, its gross value added or GVA has plummeted. For over a decade, the industry has witnessed growth catapulted by strict anti-piracy laws and punitive punishment for illegal downloads. , Source: Figures within the table are based on IFPI 2011 annual report.. The numbers for 2018 show that the industry is continuing on the growth path that started in … , Source: Figures within the table are based on IFPI Global music report 2018. 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. Click on the map for the growth figures in each region. Piracy in global recorded music industry constitutes the main challenge faced by music companies. This makes our live performance industry larger than the film, television and video games sector. Live music has been about 33% of these total revenues each and every year. Source: Figures within the table are based on IFPI 2009 annual report.  Total units figures are derived by addition of figures reported by referenced sources. International Federation of the Phonographic Industry, https://www.ifpi.org/wp-content/uploads/2020/07/Global_Music_Report-the_Industry_in_2019-en.pdf, https://www.billboard.com/articles/business/9370682/ifpi-global-report-2020-music-sales-paid-streaming-coronavirus-impact, https://www.cudisco.org/pdf/GLOBAL-MUSIC%20REPORT-2019.pdf, "RIAJ Yearbook 2018: IFPI Global Music Report 2018 (Page 4)", "RIAJ Yearbook 2017: IFPI Global Music Report 2017 (Page 5)", "RIAJ Yearbook 2016: IFPI Global Music Report 2016 (Page 5)", "RIAJ Yearbook 2015: IFPI 2013, 2014. Germany ranked third in the global music industry with total revenue of 1.405B in 2015. According to Live Performance Australia, over nine million tickets are sold annually to live music and music theatre performances in Australia, with an industry output of over $1.5 billion. While digital music business is booming, with consumers flocking to their computers to buy music in a few easy clicks, so too are individuals involved in digital piracy. According to the British Phonographic Industry (BPI), British music commanded 17.1% of the global market in 2016, indicating that one in every six music albums sold worldwide was British. It is important to note that the information presented in this page only accounts for revenue generated from the recorded music industry (recorded music and auxiliary revenues generated by these recordings), and is not reflective of the entirety of the music industry including sectors such as publishing, live music, etc. In 2013: the music industry picked up by +2.3%: after 10 years of decline (-62% between 2003 and 2012) the music industry has picked up and reached €603 million (2013) 70% of online music consumers have listened to a track via streaming in the last month. The industry is a blend of digital music and the physical sector with the latter accounting for 70% of the market sales. The Recording Industry Association of America states that the industry grew by 11.4% in 2016 reaching $7.7 billion. Milestones. - Hunter S. Thompson The truth is that big business controls the types of music and artists that get exposure and become popular. Global Sales of Recorded Music (Page 24)", "RIAJ Yearbook 2014: IFPI 2012, 2013 Report: 28.  Total units figures are derived by addition of figures reported by referenced sources. , Source: Figures within the table are based on IFPI Global music report 2019. People love listening to their favorite records at home, but investing in a musician or a band and going to a live event provides a valuable social experience.  Total units figures are derived by addition of figures reported by referenced sources. THE REAL DEAL (the truth about the music industry) by Jeriko One, written in 2002 "The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). Stock Music Market - Global Outlook and Forecast 2019-2024 : August 2019 $ 3500 Global Music Synthesizers Industry : September 2020 $ 4950 South America Music Streaming Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Content Type, Streaming Type, and End User : … The total revenue for recorded music in 2015 totaled $15 billion, marking a 3.2% rise from 2014 and the first significant growth in eight years. Ariana Grande. Source: Figures within the table are based on IFPI 2007 annual report, except where noted below. The RIAA released its semiannual compilation of recorded music revenues this week. The UK music industry was a vibrant, fast-growing … 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 per capita consumption of music is also higher than the US with a music album costing approximately $30 compared to $16-18 in the US. There's also a negative side." The live music business is a significant multinational industry, employing hundreds of thousands of people worldwide and estimated to be worth more than €25 billion annually (source: IFPI). The Japanese society is also conservative with more people preferring the use of compact disks and vinyl’s over digital music services such as streaming. For the sake of time, I’ll give a brief overview, including some charts. , Source: Figures within the table are based on IFPI 2014 annual report. What Was Disco Dance Music, And Where Did It Begin? Music industry reports can be found in the media marketand leisure industry sections. The music industry of East Asia, a region that includes Mainland China, Hong Kong, Macau, Japan, Mongolia, North Korea, Singapore, South Korea and Taiwan is developed economic sector that is home to some of the world's largest music markets. The recorded music industry was worth $19.1 billion in 2018, which was almost a double-digit gain (9.7%) from the year prior, when the global business only rose by 7.4%. The Ringtone Era. Source: Music By Numbers, UK Music Published: November 2020 MUSIC TOURISM in 2018. Each year new platforms and mediums skyrocket to prominence, minting household names and reshaping the way audiences connect with artists (see: Tik Tok and Lil Nas X).Simultaneously, new technologies put creative tools into the hands of people who previously couldn’t access them. Global Sales of Recorded Music by Country in 2010 (Page 24)", "RIAJ: Yearbook 2011, IFPI 2009 Report: 33. By Victor Kiprop on August 1 2017 in Society. The sector has become increasingly important to the livelihood of artists and musicians in recent years because of the global downturn in the sales of recorded music. Artist managers, booking agents, music publishers, labels, A&Rs and others – we’ll treat them all. Unlike its European counterparts, Germany has witnessed a slow transition from contemporary music to digital music which accounted for less than 25%. Breaking down entertainment industries in the Global Entertainment and Media Outlook 2018-2022 report, PwC reveals live music revenue will increase at a compound annual growth rate (CAGR) of 3.3% heading into 2022. Market growth is hampered by the fact that almost a third of the recorded music industry’s value is lost to illegal downloading and piracy. The Four Asian Tigers. According to FPI's Global Music Report 2016, digital music rose by 10% to $6.7 billion. If 2019 matched 2018’s 9.7% growth, we could be talking about $21bn last year. While acquiring music was as easy opening Limewire on your desktop computer, transferring that new T-Pain track to a flip-phone wasn’t a seamless experience. Source: Figures within the table are based on IFPI Global music report 2020. Just like the film industry, the music industry contributes significantly to the growth of the economy by generating billions of dollars in revenue. An increase in the penetration of digital musical instruments is anticipated to drive the market over the forecast period. Current forecasts anticipate a revenue fall for the live music industry of ~90 percent in 2020, a number that will only recover once the global borders are opened to touring acts.  Total units figures are derived by addition of figures reported by referenced sources. The music industry is evolving faster than ever. Global Sales of Recorded Music (Page 24)", "RIAJ: Yearbook 2012, IFPI 2010 Report: 31. The United States music industry generates billions of dollars every year and is home to many of the world's most renowned musicians. Music industry sales, which had been experiencing impressive year-over-year growth, began a decline that would continue for 15 years. The Recording Industry Association of America states that the industry grew by 11.4% in 2016 reaching $7.7 billion. It is estima… The global musical instruments market size was valued at USD 7.5 billion in 2018. The growing popularity of digital platforms and the increasing adoption of smart devices is expected to positively impact industry growth during the forecast period Global Sales of Recorded Music by Country in 2009 (Page 23)", "RIAJ: Yearbook 2010, IFPI 2008 Report (Page 24)", "RIAJ: Yearbook 2009, IFPI 2007 Report (Page 24)", "RIAJ: Yearbook 2008, IFPI 2006 Report (Page 24)", "RIAJ: Yearbook 2006, IFPI 2004 Report (Page 23)", "RIAJ: Yearbook 2007, IFPI 2005 Report (Page 24)", https://en.wikipedia.org/w/index.php?title=List_of_largest_recorded_music_markets&oldid=991143106, Entertainment-related lists of superlatives, Creative Commons Attribution-ShareAlike License, This page was last edited on 28 November 2020, at 14:11. According to the calculation, the live concert industry’s total revenue will reach $31 billion in four years. Since 2006, worldwide music industry revenues have been more than $60 billion each year. The indu… The music industry is a general term for all the parties involved in the creation, performance, recording, promotion, and managing the profitable business of music.
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