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 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 2018riaa
$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 annuallyifpi
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.
18.5% growth in paid streaming revenues in 2020ifpi
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 streamingifpi
More Than 1.2 trillion songs streamed on demand in 2018riaa
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.