{"id":95413,"date":"2023-03-28T14:00:00","date_gmt":"2023-03-28T13:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=95413"},"modified":"2023-03-28T13:58:32","modified_gmt":"2023-03-28T12:58:32","slug":"which-country-has-the-biggest-music-industry-in-2023","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/which-country-has-the-biggest-music-industry-in-2023\/","title":{"rendered":"Which country has the biggest music industry in 2023?"},"content":{"rendered":"\n

The top 10 music markets in the world in 2023 have been revealed by this year’s IFPI Global Music Report. Which country is number one?<\/span><\/h2>\n\n\n\n

Every region around the world saw music industry growth in 2022. The IFPI Global Music Report 2023 <\/a>has been published, showing the state of the music industry based on revenues and trends in markets around the globe, and results are positive.<\/p>\n\n\n\n

As revealed in the report, the global music market grew by 9% to $26.2 billion. 2022 saw China <\/a>joining the top five biggest music markets for the first time, and Brazil returned to the top ten, which you can view below.<\/p>\n\n\n\n

\n\n\n\n

Top 10 music markets in 2023<\/h3>\n\n\n\n
\n
\n
\"\"<\/figure>\n<\/div>\n\n\n\n
\n
  1. USA<\/strong><\/li>
  2. Japan<\/strong><\/li>
  3. UK<\/strong><\/li>
  4. Germany<\/strong><\/li>
  5. China<\/strong><\/li>
  6. France<\/strong><\/li>
  7. South Korea<\/strong><\/li>
  8. Canada<\/strong><\/li>
  9. Brazil<\/strong><\/li>
  10. Australia<\/strong><\/li><\/ol>\n\n\n\n

    <\/p>\n\n\n\n

    Image Credit: IFPI<\/a><\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n

    \n\n\n\n

    The biggest region for recorded music in 2022 was the USA and Canada<\/strong>, followed by Europe<\/strong>, with the Middle East and North Africa<\/strong> third. The fastest-growing region in 2022 meanwhile was Sub-Saharan Africa<\/strong>, growing by 34.7%, driven by South Africa which is the region\u2019s biggest market.<\/p>\n\n\n\n

    Latin American<\/strong> revenues rose by 25.9%. Asian <\/strong>revenues grew by 15.4%, with the region accounting for 22.9% of the overall global market. Australasia <\/strong>saw growth of 8.1%, up from 4.7% the previous year.<\/p>\n\n\n\n

    Revenues in the USA and Canada grew by 5% in 2022, and within that the USA\u2019s recorded music revenues rose above $10 billion for the first time, whilst Canada\u2019s increased by 8.1%. Europe streaming revenues made up 26% of the global total, and over half the total revenues from performance rights.<\/p>\n\n\n\n

    Frances Moore, Chief Executive of the IFPI, said: \u201cMusic continues to grow globally, and artists are increasingly interconnected with fans as a result of the worldwide infrastructure and investment from record companies. Alongside this, record companies<\/a> are building and developing local teams around the world who are on the ground, working with current and emerging artists from a growing variety of music scenes.<\/p>\n\n\n\n

    “This is driving music\u2019s development whilst enabling fans to seize the expanding opportunities to embrace and celebrate their own local artists<\/a> and culture.\u201d<\/p>\n\n\n\n

    \"IFPI<\/figure>\n\n\n\n

    The IPFI noted that with different regions at different stages of development, strategies for growth vary around the world. In South Africa, a challenge is converting streaming platform users from free users to subscribed. In Australasia meanwhile over 70% of Australian households and over 66% in New Zealand now pay for music subscriptions, and therefore the focus is now shifting elsewhere for growth.<\/p>\n\n\n\n

    Also highlighted was the importance of recognising the global potential of local repertoire, with major record labels investing in domestic music to introduce new genres <\/a>and styles to listeners around the world, and help local artists forge global careers.<\/p>\n\n\n\n

    \n\n\n\n

    Want your music online on streaming platforms? Start by looking at RouteNote’s free music distribution. With unlimited free uploads across 95% of digital music platforms, we give your music worldwide potential. Head here to find out more.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    The top 10 music markets in the world in 2023 have been revealed by this year’s IFPI Global Music Report. Which country is number one?<\/p>\n","protected":false},"author":24,"featured_media":34649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[1925],"acf":[],"yoast_head":"\nWhich country has the biggest music industry in 2023? - RouteNote Blog<\/title>\n<meta name=\"description\" content=\"The top 10 music markets in the world in 2023 have been revealed by this year's IFPI Global Music Report. 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