IFPI, the organization that represents the recorded music industry worldwide, published its annual Global Music Report (GMR) this week – spilling the beans on the official trade revenues for the recorded music industry in 2020. (That’s trade revenues, meaning the money that works its way back to record labels and distributors, and then artists.)
In spite of the pandemic, the headline numbers were upbeat: global recorded music revenues reached $21.6 billion last year, representing an increase of 7.4% versus 2019.
This was the record industry’s sixth consecutive year of growth, and its largest annual haul since 2002 ($22.1bn).
Comments