- The global music industry generated an estimated $150 billion in 2019.
- Music streaming revenues accounted for much of that growth, increasing by 16% to $11.4 billion.
- The industry supports around 12 million jobs worldwide, according to the International Federation of the Phonographic Industry (IFPI).
Social Impact
- Music can have a positive impact on mental and physical health.
- Music can be a form of therapy, helping individuals cope with stress, trauma, and other challenges.
- It can also bring people together, creating a sense of community and belonging.
Cultural Impact
- Music is a powerful medium of communication and expression.
- It can reflect and shape cultural values, beliefs, and identities.
- Music can be a tool for social change and activism.