According to the latest Global Music Report from the industry trade body, IFPI, the global recorded music market grew 9.7 percent last year, with streaming now accounting for for 47 percent of total revenue. Streaming revenue exploded over the last year with a 34 percent growth, sparked by a 33 percent pop in paid subscription streaming. It was the fourth consecutive year of growth for the music industry, which is still trying to recover from the loss of physical sales of CD’s and vinyl. Below is an global music revenue infographic we put together to showcase the trends.
According to IFPI, there were 255 million users worldwide of paid streaming services at the end of 2018. This is great news for the industry considering the 10.1 percent decline in physical revenue and a 21.2 percent fall in digital download sales.
2018 Global Music Revenue Highlights:
» Global revenue growth: +9.7%
» Streaming revenue is 46.8% of global total
» Growth in paid streaming revenues: +32.9%
» Physical revenues: -10.1%
» Download revenue: -21.2%
Noteworthy global markets included Latin America which was the fastest-growing region For the fourth consecutive year (+16.8%). Brazil (+15.4%) and Mexico (+14.7%) also showed continued growth. 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%).
IFPI
