1. The global recorded music industry generated $23.1 billion in revenue in 2021, up 18.5% from $19.5 billion in 2020. This growth was driven by a number of factors, including the continued rise of streaming music services, the increasing popularity of vinyl records, and a surge in demand for live music after the COVID-19 pandemic.
2. Streaming music services accounted for 65% of global recorded music revenue in 2021, up from 56.1% in 2020. The leading streaming music services are Spotify, Apple Music, Amazon Music, and Tencent Music Entertainment.
3. Vinyl records saw a resurgence in popularity in 2021, with sales increasing by 29% to $1.2 billion. This is the highest level of vinyl sales since the 1980s. The resurgence of vinyl is due to a number of factors, including the nostalgia for physical music formats and the improved sound quality of modern vinyl records.
4. Live music revenue increased by 20.6% in 2021 to $12.2 billion. This growth is a reflection of the pent-up demand for live music after the COVID-19 pandemic closed most venues in 2020. The biggest live music markets are the United States, the United Kingdom, and Germany.