{"id":3985,"date":"2023-03-22T08:24:30","date_gmt":"2023-03-22T15:24:30","guid":{"rendered":"https:\/\/blog.goticketly.com\/index.php\/2023\/03\/22\/chinese-growth-boosts-global-music-market\/"},"modified":"2023-03-22T08:24:30","modified_gmt":"2023-03-22T15:24:30","slug":"chinese-growth-boosts-global-music-market","status":"publish","type":"post","link":"https:\/\/blog.goticketly.com\/index.php\/2023\/03\/22\/chinese-growth-boosts-global-music-market\/","title":{"rendered":"Chinese growth boosts global music market"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"primary\">\n<p class=\"standfirst\">Huge growth in China and across Asia helped the global recorded music market to grow by 9.0% in 2022, according to IFPI, the organisation that represents the recorded music industry worldwide.<\/p>\n<p>Figures released in <a href=\"https:\/\/www.ifpi.org\/resources\/\" target=\"_blank\" rel=\"noopener\">IFPI\u2019s Global Music Report<\/a> show total trade revenues for 2022 were $26.2bn.<\/p>\n<p>Subscription audio streaming revenues increased by 10.3% to $12.7bn and there were 589 million users of paid subscription accounts at the end of 2022. Total streaming grew by 11.5% to reach $17.5bn, or 67.0% of total global recorded music revenues.<\/p>\n<p>There was growth in other areas too with physical revenues remaining resilient, up 4.0%, with performance rights revenue increasing by 8.6% and returning to pre-pandemic levels, and synchronisation income climbing by 22.3%.<\/p>\n<p>Commenting on the release of the Global Music Report, IFPI chief executive Frances Moore, said: \u201cThis year\u2019s report tells the continued story of record companies\u2019 commitment to their core mission \u2013 working with artists to help them achieve their greatest creative and commercial potential over the course of a career. That requires an artist-label partnership that constantly evolves and innovates so that it can capitalise on opportunities in more business areas and more parts of the world.\u201d<\/p>\n<p>Asia grew by 15.4% with its largest market, Japan, seeing growth of 5.4% whilst the second largest market, China, grew by 28.4%, becoming a global top five market for the first time. In a continuing trend, Asia also accounted for almost half of global physical revenues at 49.8%.<\/p>\n<p>Revenues in Europe, the second-largest recorded music region in the world, grew by 7.5%, with the region\u2019s three biggest markets all posting gains: UK (+5.4%), Germany (+2.2%) and France (+7.7%).<\/p>\n<p>The USA &amp; Canada region \u2013 the world\u2019s largest in revenue terms \u2013 grew by 5.0% in 2022. The world\u2019s single biggest market, the USA, grew by 4.8% a \u2013 exceeding $10bn for the first time \u2013 and Canadian recorded music revenues increased by 8.1%.<\/p>\n<p>\t\t\t\t\t\t\t<!-- \n\n<div class=\"tax-cat-tags\">\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-cat\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Filed under<\/p>\n\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Awards<\/button>|<button class=\"btn\" >Ticketing<\/button>\n\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\n\t\t\t\t\t\t\t\t\n\n<div class=\"col-sm-6 tax-tags\">\n\t\t\t\t\t\t\t\t\t\n\n<p class=\"\">Tags<\/p>\n\n\n\t\t\t\t\t\t\t\t\t<button class=\"btn\" >Ticketing<\/button>|<button class=\"btn\" >Stadiums<\/button>\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\n --><\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.theticketingbusiness.com\/2023\/03\/22\/chinese-growth-boosts-global-music-market\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Huge growth in China and across Asia helped the global recorded music market to grow by 9.0% in 2022, according to IFPI, the organisation that represents the recorded music industry worldwide. Figures released in IFPI\u2019s Global Music Report show total trade revenues for 2022 were $26.2bn. Subscription audio streaming revenues increased by 10.3% to &hellip; <\/p>\n","protected":false},"author":1,"featured_media":3986,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[698,4264,2955],"tags":[],"class_list":["post-3985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china","category-ifpi","category-industry-news"],"_links":{"self":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/3985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/comments?post=3985"}],"version-history":[{"count":0,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/posts\/3985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media\/3986"}],"wp:attachment":[{"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/media?parent=3985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/categories?post=3985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.goticketly.com\/index.php\/wp-json\/wp\/v2\/tags?post=3985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}