Music industry sales per genre / market

A music business topic for my music and Leo friends :-)! - as a former DJ and creator of the most popular music community on this blockchain I hardly wrote about the business aspect - now I tried to dive into which genre sells these days and found some interesting statistics. A bit general given EDM / Electronic might include Techno, Trance, House and more. Not sure what "Pop" includes or excludes then. To summarize I failed to found the genre overview but will deep dive during the next weeks into this.

photo source: Pexels free license: https://www.pexels.com/photo/photo-of-a-man-selling-vinyl-records-under-a-tent-16625469/

In general there seem to exist over 300 music genres worldwide.

Pop is the most popular, whereas hip-hop/R&B dominates the US market. In my home I am not sure to be fair (mosts stats are US driven or too general) - the times where Techno was huge for sure are over - but also an issue of segmenting or summarizing into overall genres (never been a fan of casts / genre thinking though).

Interesting that the young ones worldwide are eager for HipHop - according to surveys by statista and sources like: https://gitnux.org/music-genre-statistics/ this genre is the most popular one among listeners aged 12-35 (I can confirm by my daughter)

According to the source above - 53.4% of the German population listens to pop music (ok in 2019, what what is pop exactly?).

This statistic is a telling indication of the popularity of pop music in Germany. It shows that the majority of the population is listening to this genre, making it a major player in the music industry. This is an important piece of information for anyone writing a blog post about music genre statistics, as it provides insight into the preferences of the German population.

But what about sales?

Difficult to segment this per genre it seems, overal some figures from 2023 condenses by a report (still need more current ones):

Global music sales rose for the eighth consecutive year in 2022, with recorded music revenues growing in every world market and across almost all formats, according to the International Federation of the Phonographic Industry’s (IFPI) “Global Music Report 2023.”

Total revenues climbed to $26.2 billion, a rise of 9% on the previous year. Although that rate of growth is half 2021’s rise, when revenues were up 18.5% year-on-year, IFPI said it was still the fourth highest growth level the recorded music business has seen this millennium.

The leading driver of growth was a 10.3% rise in paid-for streaming subscription revenue, which totaled $12.7 billion last year. IFPI reports there were 589 million users of paid subscription accounts at the end of 2022, up from 523 million in the previous 12 months and 443 million in 2020.

Top music markets

In terms of world markets, the U.S. retains its number one position with music sales growing 4.8% and exceeding $10 billion in recorded music sales for the first time.

Japan holds steady in second place with sales growing 5.4% in 2022. The third and fourth-biggest markets for recorded music remain the United Kingdom (+5.4%) and Germany (+2.2%), respectively.

Source: https://www.billboard.com/pro/ifpi-global-report-2023-music-business-revenue-market-share/

Posted Using InLeo Alpha