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Global Recorded-Music Revenues Topped $20 Billion in 2019, but Streaming Growth Is Slowing
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variety.com
variety.comBy Jem Aswad Senior Music Editor With the devastating impact of the coronavirus pandemic on the global economy, any look back at 2019 financial performance feels like an exercise in nostalgia, but the data released by the International Federation of the Phonographic Industry on Monday shows that the streaming boom’s impact on recorded-music revenues was already starting to level off.
For 2019, total revenues for the global recorded-music business grew by 8.2% to $20.2 billion, with streaming revenue growing 22.9% to $11.4 billion — accounting for more than half of total revenue for the first time, at 56%.
Physical sales continued their long decline, but at a slower rate — 5.3% — than in 2018. The growth was powered by a 24.1% increase in
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