Global podcast ad revenues to boom to $1.6 billion by 2022. Ever since I’ve begun my research, I have followed the steps and am now successfully earning music royalties from multiple sources including Spotify, YouTube, Film Music, and Live Performances! But, in 2016, things are beginning to look up. This is the largest total since 2007, when the industry raked in $18.4 billion, and it is also the highest rate of growth since a decade before that, when the IFPI began properly tracking and reporting all of this data. That sum grew by over 21% from the year prior, and it passed the $10 billion threshold for the first time since the IFPI began releasing this report over 20 years ago. The global recorded music market grew by 8.1% in 2017, its third consecutive year of growth since IFPI began tracking the market in 1997. It grew by 7.4% in real terms over the 2017-2018 period, compared to a 1.4% rate of growth for the economy as a whole. Paid streaming, which looks at only those who pay for an account with a platform like Apple Music, Deezer and many others, rose by just under 33%, while free streaming (outlets that don't require people to pay, like Pandora or Spotify) made up much of the rest. Figures released today in IFPI’s Global Music Report 2019 show total revenues for 2018 were US$19.1 billion. Live and recorded music sales are rising, and digitally recorded music is expected to grow just under $1 billion in 2019. Ticket sales will make up $24 billion of that total. The IFPI (International Federation of the Phonographic Industry) has just released its highly anticipated annual report which details how much money the global recorded music industry brought in last year, what segments performed the best, the worst, which artists moved the most copies of hit singles and albums, and which focuses on certain markets, detailing how they rose or fell in their global rank. Music contracts and publishing are not the most exciting part of the music industry, but they will determine your bottom line. 1. Live and recorded music sales are rising, and digitally recorded music is expected to grow just under $1 billion in 2019. That makes it more lucrative than video and music … The recorded music industry was worth $19.1 billion in 2018, which was almost a double-digit gain (9.7%) from the year prior, when the global business only rose by 7.4%. The global gaming market is forecast to worth $256.97 billion by 2025. 8-tracks took a short-lived run at the dominance of vinyl, cassettes faded away as compact discs took the world by storm, and through it all, the music industry saw its revenue continue to climb. which details how much money the global recorded music industry brought in last year, what segments performed the best, the worst, which artists moved the most copies of hit singles and albums, and which focuses on certain markets, detailing how they rose or fell in their global rank. He dedicates his spare time to raising his three baby girls. The Weeknd spent ... Live music industry could lose 170,000 jobs 'by end of 2020 ... UK music industry worth a record £4.5bn in 2017. This is made up of: £1.6bn from musicians, composers and songwriters; £634 m from recorded music; £662m from live music; £402m from music publishing; £151m from music representatives; £80m from music producers, recording studios; £1.4bn the value of exports; 101,680 full time jobs. Millions of fans who poured into concerts ranging from giant festivals to grassroots music venues generated a contribution of live music to the UK’s economy of around £1 billion (£991 million). “This Is For The Biopic”—Ant Clemons And The Perspective Of Success. The U.K. live music industry lost 170,000 jobs, according to The Guardian. A report in January said gaming was worth £3.86bn ($4.85bn) - … Photograph: Antonio Olmos/The Observer. © 2021 Forbes Media LLC. Over 90% of all live and recording revenues come from domestic acts, while publishing is considered the most foreigner-friendly part of the industry with 20-25% of revenues generated by international artists. The sector was worth an estimated £19.2 billion in venue and destination direct spend in 2015. The Structure of the Music Industry Global With Local Dimensions The global sound recording industry is worth approximately R160 billion. I haven’t visited this site for a couple year but I see nothing has changed. The market is anticipated to expand at a CAGR of 21.0% from 2021 to 2028 Streaming, of course. On the first step, agents and tour promoters find and sign the performer. Report reveals live music is worth £1.1bn to Uk economy with industry as a whole put at £5.2bn. The music industry has had a gloomy outlook for more than a decade. The sector is now worth £111.7bn in Gross Value Added (GVA) to the UK – more than £35 billion more than the automotive, life sciences, aerospace and oil and gas industries combined. The live music business is a significant multinational industry, employing hundreds of thousands of people worldwide and estimated to be worth more than €25 billion annually (source: IFPI). display: none !important; I love following charts and the biggest and most successful names in the industry, and I'm always interested in highlighting incredible feats and discovering what's next. Vinyl revenues rose by 6% in 2018, and the format now represents just 3.6% of the total global market. Global live music revenues are $25 billion, according to IBISworld. Let’s dive right into it! That makes for a revenue of $4.3 billion, according to research conducted by the group, which represents approximately 80 percent of the music industry’s overall revenue. Hipgnosis Songs Acquires Music Catalog Of Popular Hip-Hop/R&B Producer No I.D. The music industry is growing, and at an increasing rate. The other major segment of the global recorded music industry, performance rights (which the IFPI defines as the “use of recorded music by broadcasters and public venues”), increased in sales by just under 10%, a huge leap. ‘TikTok v. Trump’ Refiled as ‘TikTok v. Biden’ In Federal Appeals Court, Sir Richard Branson Blesses UMG’s Revamped ‘Virgin Music Label & Artist Services’, ‘The Miseducation of Lauryn Hill’ Reaches Diamond Status — 10 Million Albums Sold, 55% of Music and Live Entertainment Professionals In Australia Are Considering a Career Change, Carnegie Hall Cancels Its Performance Season for the First Time In Its 130-Year History, What Streaming Music Services Pay (Updated for 2021), Is Your Song Being Played on the Radio? The music industry was in crisis just a few years ago. We’re still a way off the revenues that the industry was recording in the peak-CD pre-Napster era, but Goldman Sachs is predicting that streaming alone will be worth $37.2bn a year to the industry by 2030, while Midia Research reckons consumer-spending on streaming (as opposed to trade revenues) could reach $45.3bn by 2026. You may opt-out by. Of that $19.1 billion total, an impressive $11.2 billion comes from digital revenue. Summarizing the report, Christopher Vollmer, Global Advisory Leader for Entertainment and Media at PwC US, explains, “To succeed in the future that’s taking shape, companies must revisit every aspect of what they do and how they do it. October 26, 2018. These events are expanding internationally. This includes ticket sales and sponsorship. Streaming is King . Paid downloads dropped by a whopping 21.2%, and now represent only 7.7% of global revenues. Opinions expressed by Forbes Contributors are their own. The Rolling Stones in concert at the London Stadium in 2018. The Revolution Will Be Recorded: How Can Artists Shape Movements and Change Lives? According to Live Performance Australia, over nine million tickets are sold annually to live music and music theatre performances in Australia, with an industry output of over $1.5 billion. More than 10.4 million music tourists spend £2.3 billion in 2015. Digital Music News ©2018 All Rights Reserved, Studio Engineering and Recording – School of Music, Dance and Theatre, Software Engineer (WW) – Rights Management & Publishing. Now it’s your turn, I created this guide so that you can be knowledgable of not only how to collect your royalties, but also understand what percentages are fair so that you get paid what you are worth. 40 Years of Music Industry Sales. The global gaming market is forecast to worth $256.97 billion by 2025. Events Industry by Type (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminars, and Others), Revenue Source (Ticket Sale, Sponsorship, and Others), Organizer (Corporate, Sports, Education, Entertainment, and Others), and Age Group (Below 20 years, 21–40 years, and Above 41): Global Opportunity Analysis and Industry Forecast, 2021–2028 Consumers have apparently demanded and accepted different forms of live event experiences, avoiding a “one-size-fits-all” generic experience. }, ×  two  =  18 .hide-if-no-js { For the Christian music industry and genre, the following sale statistics occurred in 2012. The global video streaming market size is expected to reach USD 223.98 billion by 2028, according to a new report by Grand View Research, Inc. As expected, streaming continues to overtake other music sales formats. The music industry has changed quite a bit over the last couple of decades, all thanks to new technology. To keep you up to date about the recent happenings in the industry, we have compiled some of the best statistics on the video game industry revenue for 2020. Spurring that intense growth and grab of market share is streaming, which continues to surge forward as a seemingly unstoppable force. Only a couple of decades ago, from a business perspective most recording artists toured because it was the most effective way to … The U.S. music industry grew 11.9 percent to $9.846 billion in 2018 from the $8.797 billion tallied in 2017, thanks to continuing explosive growth from streaming, which jumped 30.1 percent to … Years ago MP3 players and iTunes all but destroyed the traditional album, and more recently even permanent digital downloads began to see a dip in sales, down as much as 13% in 2013-2014. However, it won’t match the strength of the live concert industry. Now That the Music Modernization Act Has Passed, Who’s Gonna Run the Damn Thing? The gross turnover of the core of the South African music industry is approximately R900 million, with industry experts estimating that the entire industry is worth R2 billion. The record industry has seen a lot of change over the years. And, given the pace and scale of change under way, speed is vital.”. The industry is worth £3.86bn ($4.85bn) - more than double its value in 2007 - said the Entertainment Retailers Association (ERA). News. Today, they push the same music, only on websites such as SoundCloud . Since overtaking physical music sales in 2014, digital sales have helped the music industry adapt to a fast-changing entertainment landscape (royalties are expected to reach $1.1 billion in 2019).