IFPI STATS: MUSIC TOPS $20B IN 2019

Total revenues in 2019 for the global recorded-music business grew 8.2% to $20.2b, with more than half that figure—$11.4b—coming from streaming, according to figures released today by the IFPI. The best news: A lot more people are paying for streaming.

Subscriptions to paid streaming services rose 33.5% to 341m, accounting for 42% of total recorded music revenue. Streaming revenues overall were up 22.9% globally.

The U.S. and Canada are still the largest region for recorded music revenues: 39.1% of the global market. The U.S. was up 10.5% and Canada spiked 8.1%.

The fastest-growing region was Latin America, up +18.9%, due to a massive leap in Argentina, up 40.9%, and growth in Mexico (+17.1%) and Brazil (+13.1%). The U.K. was up 7.2%.

“While the numbers we are reporting are a snapshot of the business last year, the COVID-19 pandemic presents challenges unimaginable just months ago,” said IFPI Chief Executive Frances Moore. “In the face of a global tragedy, the music community has united behind efforts to support those affected. This is a critical and ongoing priority as our member record companies work to continue to support the careers of artists, musicians and employees around the world.”