Music Industry

The global music industry did very well in 2022. Here are the figures.

The IFPI, the organization that represents the interests of the recorded music industry worldwide, released figures about how things went in 2023. Here are the topline numbers.

  • The global music industry made US$26.2 billion from music last year. That’s up 9% from 2021.
  • Revenues from streaming music hit US$17.5 billion, a year-over-year increase of 11.5%.
  • Streaming now accounts for 67% of the global music market. Last year, that number was 65%.
  • Revenues from audio streaming subscriptions was up by 10.3%. Looking at it another way, we spent US$12.7 billion on these subs.

You can dig deeper in the IFPI’s annual global music report here.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 40+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

Alan Cross has 38336 posts and counting. See all posts by Alan Cross

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