IFPI Publishes 2020 Global Music Report
The International Federation of the Phonographic Industry has released its annual report on the state of recorded music worldwide.
The IFPI’s Global Music Report is a retrospective of 2019 and thus does not account for economic and public health challenges the world faces in 2020.
“Today, as we issue the report, the world faces a pandemic that presents challenges unimaginable just months ago. In the face of this global tragedy, the music community has united behind efforts to support those affected by COVID-19,” IFPI chief executive Frances Moore wrote in the report. “This is a critical and ongoing priority as our member record companies work to continue to support the careers of artists, musicians and employees around the world. It has been heartening to see how music has helped once again to unite, inspire and heal. We see that music’s timeless power, like the resilient strength of humanity itself, is a light even through difficult times.”
In brief, for 2019 the report found 8.2% growth in global revenue; 24.1% growth in paid streaming revenue; 22.9% growth in overall streaming revenue; and 5.3% decline in physical revenue, continuing trends of previous years, with overall growth driven by streaming but decline in physical sales.
The report’s artist of 2019 ranking – which takes into account streaming, digital and physical sales worldwide – ranked Taylor Swift as the No. 1 artist for the year, followed by Ed Sheeran, Post Malone, Billie Eilish, Queen, Ariana Grande, BTS, Drake, Lady Gaga and The Beatles.
Billie Eilish held the top digital single of 2019 with “Bad Guy,” with Lil Nas X’s “Old Town Road” coming in at No. 2.
The top global album for the year was a compilation from Japanese legends Arashi.
The report also addresses the role of “local music ecosystems,” emergin markets like Nigeria and India, the evolving role of artist partnerships. The document includes case studies of Billie Eilish, Tia Ray, and Rosalía.
You can download the short report from the IFPI website.