But the overriding importance of great songs and performers is cited by Universal Music Group chairman/CEO Lucian Grainge in his forward to IFPI’s Global Music Report: “To succeed, music’s future must be artist-centric,” he writes.
And three of the acts on IFPI’s Global Top 10 Albums chart for 2022 - BTS, Stray Kids and BLACKPINK - are from South Korea.įactors including music company investment and innovation have contributed to the music industry’s global growth. chart, which ranks the top hits based on streaming and/or sales activity from more than 200 territories around the world excluding the United States, as tracked by Luminate, shows hits in the past year have come from Bad Bunny, who hails from Puerto Rico but has gained Latin music fans worldwide Argentina’s Bizarrap and Spain’s Quevedo Britain’s Sam Smith and Germany’s Kim Petras Nigeria’s Rema with Mexican American Selena Gomez and Colombia’s Manuel Turizo, among others.
A 12-month recap of Billboard’s Global Excl. U.S. The era when artists from English-speaking markets dominated the global pop charts has long passed. And the most dramatic rate of growth came from Sub-Saharan Africa, with a 34.7% increase in revenue in 2022, led by South Africa, the region’s largest market.īehind the numbers, of course, is the music. The Middle East and North Africa had the world’s third-largest growth rate, with an increase of 23.8%. Every market in Latin America saw double-digit percentage growth, contributing to a regionwide rise of 25.9%, its 10th year of increases. This is the most geographically diverse group of honorees yet named to this list, reflecting the economic trends cited by IFPI, the trade organization of the global recorded-music industry.Īccording to IFPI, the growth in several regions of the world far surpassed the global average of 9%: Asia grew by 15.4% overall, with China growing 28.4% and seizing the No. 5 spot among the world’s top 10 music markets by revenue (displacing France, which dropped to No. 6). All have primary responsibility for markets outside the United States, which account for the overwhelming majority of the world’s recorded-music sales. Collecting Societies Now Compete to Represent Writers and Publishers for StreamingĪmong those who have contributed to that growth are Billboard’s 2023 International Power Players - executives nominated by their firms and peers and chosen by our editors from selected industry sectors.
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