The UK has surpassed Germany and reclaimed it’s place as the number 3 music market globally, IFPI report reveals.

The IFPI released their global music report for 2015 last week, showing that the music industry was on the up for the first time in 20 years, thanks to digital music streaming and downloads. The report also revealed that the UK had re-entered the top 3 music markets in the world with a growth of 0.6%.

With revenues totalling $1.354 billion in 2015 the UK just slipped past Germany, who saw a drop of 0.3% with a total revenues of $1.310 billion from music, pushing Germany into fourth place. The US of course remains number 1 with unrivalled revenues of almost $5 billion, up 1% on 2014. Japan meanwhile also maintains it’s spot as the second largest market with a 3% rise equalling revenues of $2.447 billion. Japan was also revealed to be the biggest market globally for physical music sales.

Whilst the UK’s total music revenues rose they placed fourth in the sales of physical music, however came in second for revenues from performance rights and synchronisation. Meanwhile on the other side of the world the music market with the biggest growth in 2015 was China which grew an exponential 63.8% on 2014, thanks largely due to a crackdown on music legalities.

Behind Germany for overall revenues in the music industry was France at No.5, Australia at No.6, Canada at No.7, South Korea at No.8, Italy at No.9, and Brazil at No.10.