IFPI'S TOP 10 GLOBAL MARKETS BY REVENUE

Included in IFPI's 2022 Global Music Report was an updated ranking of the Top 10 markets by revenue. China has become the fifth-biggest market, and Brazil has cracked the Top 10.

China's 28.4% growth is attributed to the adoption of subscription streaming platforms. Japan, the world's second-biggest market after the U.S., is among the bestselling regions in CD sales. Asia represents 50% of the world's physical revenue.

Latin America saw 25.9% growth in revenue, with its biggest markets, Brazil and Mexico, up 15.4% and 24.3%, respectively.