revenues were up 10.2 percent last year to $28.6 billion, according figures released Thursday, but record firms are concerned over how to maintain growth in the streaming era.was -- no surprise -- Taylor Swift, according to the annual report by International Federation of the Phonographic Industry, which represents global record companies.
The biggest singles in the world were"Flowers" by Miley Cyrus, the only song to surpass 2 billion streams , followed by"Calm Down" by Rema and Selena Gomez and"Kill Bill" by Sza . The fastest-growing regions were Sub-Saharan Africa and Latin America , thanks to the spread of streaming and the rise of local stars like Burna Boy, Asake, J Balvin and Bad Bunny."The worst ad-supported, short-clip video platforms have no chance of leading to paid subscriptions and are becoming the primary consumption platforms for many young consumers," said Dennis Kooker, of Sony Music, at a press conference to launch IFPI's report.