QWho said the music industry was doing badly? If the democratization of streaming has largely undermined the CD industry, music continues to sell massively. According to the latest data from the International Federation of the Phonographic Industry (Ifpi), global music sales topped $26 billion in 2021.
This historic amount, up 18.5% compared to 2020, is a record exceeding the 24 billion dollars reached in 1999. Better, relates Le Figaro, the music industry seems to have largely recovered from the bad memories of 2014, when the numbers were at their lowest. Since then, and in the space of eight years, the turnover of the industry has almost doubled.
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Streaming crushes the competition
It is, unsurprisingly, the streaming market which almost single-handedly supports the music sector. Paid streaming generated $12.3 billion in 2021, up 12% from the previous year. A sum that represents more than half of the total turnover of the music sector (65%).
As related Le Figaro, the different music platforms – Spotify, Deezer, Amazon Music, Apple Music, etc. – bring together nearly half a billion users. A sign of this good form, even the CD and vinyl market is experiencing growth – a first in twenty years. Sales increased by 16%, reaching $5 billion.
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