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Global Music Business Saw Huge Gains In 2021 Thanks To Streaming

The IFPI (International Federation of the Phonographic Industry) recently released their 2021 report looking at the global music industry as a whole. The IFPI reports that the industry grew by a whopping 18.5% in 2021 to $25.9 billion, half of which was thanks to streaming. Paid subscription streaming revenues were $12.3 billion in 2021, which accounts for 523 million users worldwide. That number increases to $16.9 billion when accounting for advertising-supported (the free version of) streaming.

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