What does IFPI Global Music Report 2019 say about the music industry
In the last few decades, the music industry suddenly became very strong as more and more musicians set about making their career here. Thanks to technology the reach they got was huge and within no time most of them became successes. However, as per the IFPI Global Music Report 2019 there are a lot many things that would happen in the industry in the future and we mention some of them here.
As per the report, the following figures are definitely worth looking at. They are indicators of what the industry has come to and what you can expect from it in the future.
- The global recorded music revenues have grown up by 9.7%
- Total revenue garnered from live streaming grew by 34% to almost half of the total revenue as such.
- For the fourth consecutive year, Latin America has shown the highest growth in terms of regions.
- If we combine both the physical and digital formats the Asia and Australasia region would be the second-largest region out here.
- Again for the fourth consecutive year, the global recorded music market grew by 9.7%
- As per the IFPI Global Music Report 2019, the total music revenue figures for the USA for the last year were US$19.1 billion.
- Streaming revenue grew by about 34% a whopping figure.
- This accounted for almost half (47%) of the global revenue.
- The paid subscription streaming figures grew up by another 32.9%
- At the end of 2018, there were nearly 255 million subscribers of paid streaming which shows its potential in the future.
- This number of users accounted for around 37% of the total recorded music revenue for that year.
- Growth in live streaming countered a 10.1% decline in physical revenue that had been seen.
- It also stands tall against a decline of 21.2% seen in the download revenue.
- Brazil and Mexico are also growing fast with a growth rate of 15.4 and 14.7 % respectively.
- South Korea should a very strong growth (17.9%) for physical and digital revenues.
The IFPI Global Music Report 2019 clearly shows a change in the industry mindsets and potential. Digital distribution has spread its wings and musicians are largely benefiting from this fact. Beatrising distribution has understood the scope this holds and is working hard to help musicians get their due. In the future, the services they are offering would hold much potential for such people. If you are in the same boat as them you should contact Beatrising to trust them with taking care of your music too.