Music Industry Statistics and Facts for 2021

This is a list of some of the most important facts and statistics about the music industry. We update this list regularly to stay up to date with current trends. The data in this article highlights the major changes that the music industry is going through.

Music Industry Statistics

According to IFPI’s global music report, the global music industry increased by 7.4 percent in 2020 in comparison to 2019.

The total value of the recording industry in 2020 was $21.6bn US Dollars

ifpi

The United States is the biggest market for digital music consumption.

The market generating the highest revenue for digital music consumption is the United States, at $6.7bn US dollars in 2020, followed by China with $1.6 billion US dollars.

Statista

The music industry took a major turn in 2020, with live music cancelled across the globe. This resulted in a major decline of live ticket sales.

Live ticket sales dropped from 57 million in 2019 to just over 13 million tickets in 2020.

Statista

However, live music still made up a relatively small portion of overall income in the music industry even before 2020.

Digital revenues were 88% of the total U.S. music industry in 2018

riaa

$5.8bn is being pumped into A&R across the world, which is the role responsible for talent scouting and the commercial and artistic development of music artists

$5.8bn is invested in A&R and marketing by record labels annually

ifpi

Music Streaming Statistics

Music streaming is continuously gaining as the standard method of consuming music. Digital music consumption and streaming services now account for a major portion of revenues in the total global music industry.

In 2019, the music streaming revenue increased by close to 23 percent, accounting for 56 percent of the total recorded music revenue.

Statista

18.5% growth in paid streaming revenues in 2020

ifpi

In 2019, Spotify was the most popular music streaming platform with 35 percent of consumers using the service.

Statista

62.1% of global industry revenue comes from streaming

ifpi

More Than 1.2 trillion songs streamed on demand in 2018

riaa

Music Statistics

Pop music is the most popular music genre in the world, with around 64% of the 19,000 respondents from 18 countries. The second in line was rock music with 57%, while the third was electronic/house music with 32%.

Statista

Most people (54%) identify as ‘loving’ music or being ‘fanatical’ about music. Among 16 – 24-year-olds, this rises to 63%.

ifpi

According to statistics on music education, students who study music do better in maths and English examinations.

Science Daily

After sifting through countless statistics and music facts around the internet, these are some of the most important ones available.

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