Global music sales reached $19 billion in 2018
A staggering increase of 9.7% from last year...
Global music sales topped $19 billion in 2018, according to the latest IFPI Global Music Report.
The International Federation of the Phonographic Industry released its 2019 Global Music Report on Tuesday, recording that global music revenues have increased by an astonishing 9.7%.
Equally impressive is total streaming revenue growing by 34%, meaning that it streaming now accounts for nearly half (47%) of all revenue. Streaming's meteoric rise is countered by a decline in download (21.2%) and physical (10.1%) sales, a foreboding omen for all you vinyl heads.
The news of streaming's large revenue increase closely follows the US Copyright Royalty Board approving a 44% increase in streaming royalty rates for artists, which is currently being challenged by Spotify, Google, Amazon and Pandora.
In better news for physical, last month it was announced vinyl brought in more money for the British economy than Youtube.
You can check out the full IFPI report here.
