{"id":84544,"date":"2021-03-24T13:00:00","date_gmt":"2021-03-24T13:00:00","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=84544"},"modified":"2021-03-24T12:04:14","modified_gmt":"2021-03-24T12:04:14","slug":"the-global-recorded-music-industry-grew-by-1-5-billion-in-2020","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/the-global-recorded-music-industry-grew-by-1-5-billion-in-2020\/","title":{"rendered":"The Global Recorded Music Industry Grew By $1.5 Billion in 2020"},"content":{"rendered":"\n

Image credit: Bad Bunny (most streamed artist on Spotify) via Musicbusinessworldwide<\/a><\/em><\/p>\n\n\n\n

In spite of a pandemic and lockdowns across the globe the global recorded music industry grew by $1.5 billion in 2020.<\/span><\/h4>\n\n\n\n

As we turn a corner in the coronavirus pandemic and live music appears to be on the horizon it\u2019s hard to imagine a time where that was but a fever dream. Since the pandemic started back last year the music industry has been in a state of limbo, particularly the live sector. Record stores had to close their doors or change their business model to suit online orders, gigs ceased and artists fell into a slump with no place to play. <\/p>\n\n\n\n

However, in spite of all this, in spite of facing such uncertainty, the global recorded music industry grew by $1.5 billion, according to Midia Research<\/a>. The report included majors, indies, and DIY artists. Each one generating wholesale\/trade revenues throughout 2020. <\/p>\n\n\n\n

Midia\u2019s figures suggest that the recorded music business saw revenues of $23.1 billion in the year, up 7% on 2019. <\/p>\n\n\n\n

Talking on the report Midia<\/a> notes: \u201cAlthough the [worldwide] recorded music business experienced a dip in the earlier months of the pandemic, the remainder of the year saw industry revenue rebound.\u201d<\/p>\n\n\n\n

The rebound could even lead to a strong 2021, this is based on recorded music businesses quarterly revenues bouncing up 15% YoY in Q4 2020. <\/p>\n\n\n\n

In addition to this global annual recorded music streaming revenues grew faster on a monetary basis in 2020 than they did in 2019. According to Midia<\/a> streaming revenues grew by $2.3bn (+19.6%) to $14.2bn in 2020. <\/p>\n\n\n\n

Interestingly, one area that saw great growth was the DIY artist sector<\/a>, with artists using services like Routenote<\/a>, which generated a total of $1.2 billion globally in 2020. <\/p>\n\n\n\n

Hopefully, with the pandemic coming to a (hopeful) close and lockdown restrictions easing the music industry will return stronger than ever, these figures certainly suggest so. <\/p>\n","protected":false},"excerpt":{"rendered":"

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