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Music Industry: Difference between revisions
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== 2022 == | == 2022 == | ||
Rising to US$26.2 billion, the global recorded music market grew by 9.0% in 2022. .<ref>https://ifpi-website-cms.s3.eu-west-2.amazonaws.com/GMR_2023_State_of_the_Industry_ee2ea600e2.pdf</ref> | Rising to US$26.2 billion, the global recorded music market grew by 9.0% in 2022. .<ref>https://ifpi-website-cms.s3.eu-west-2.amazonaws.com/GMR_2023_State_of_the_Industry_ee2ea600e2.pdf</ref> | ||
* USA and Canada increased by 5.0% in 2022; a slower rate than the prior year (+21.8%). Overall the USA & Canada region represented 41.6% of the global market. | |||
* Both USA (+4.8% in 2022) and Canada (+8.1%) remained global top 10 markets, with USA the single biggest national market in the world, exceeding US$10 billion for the first time. | |||
* Europe recorded music revenues saw growth of 7.5% in 2022. UK, Germany and France remained the three largest markets in Europe, all posting growth (+5.4%, +2.2% and +7.7% respectively). | |||
=== By Format === | === By Format === | ||
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* Overall streaming (including subscription and advertisingsupported), accounted for the highest proportion of the market, increasing to a 67.0% share of the overall market in 2022 up from a 65.5% share the prior year. | * Overall streaming (including subscription and advertisingsupported), accounted for the highest proportion of the market, increasing to a 67.0% share of the overall market in 2022 up from a 65.5% share the prior year. | ||
* 589M users of paid subscriptions accounts. | * 589M users of paid subscriptions accounts. | ||
== References == | |||