LONDON, United Kingdom – Global recorded music revenues rose 9% last year to $26.2 billion, with growth registered in every region and an increase in paid subscription streaming helping drive sales, a report said on Tuesday, March 21.
Revenues from CDs, vinyl and other physical formats rose 4% to $4.6 billion, a slower rate than 2021’s growth of 16.1%, which was boosted by a post-pandemic recovery, the IFPI’s Global Music Report said. “This is driving music’s development whilst enabling fans to seize the expanding opportunities to embrace and celebrate their own local artists and culture.”
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