STREAMING

Music consumption grows for the fifth consecutive year in the world

The recorded music industry recorded a mark of US$20.2 billion in 2019, a number 8.2% higher than in the previous year, driven by the increase in consumption of streaming, according to the Global Music Report released on Monday. fair, 4, by the International Federation of the Phonographic Industry (IFPI). It is the first time that the industry has reached the $20 billion mark since 2005. This is the fifth consecutive year of growth.
According to the document, which warns of the challenges of 2020 in the face of the pandemic of the new coronavirus, the collection by streaming grew 22.9% in one year, and already corresponds to 56.1% of the recorded music market in the world.
The growth in online consumption was greater than the drop in physical sales, of -5.3%, and was based on a 24% growth in platform subscriptions, which had 341 million users in 2019.
For the fifth consecutive year, Latin America was the region that showed the highest growth in the purchase of recorded music worldwide, with an increase of 18.9%, led by Argentina (+ 40.9%), Mexico (+17, 1%) and Brazil (+ 13.1%).
Europe grew by 7.2%, driven by the United Kingdom (+ 7.2%), Germany (+ 5.1%), Italy (+ 8.2%) and Spain (+ 16.3%).
In Asia, there was a 3.4% growth in consumption compared to 2019, dragged downwards by Japan, where sales decreased by 0.9%, especially those of physical media (format still dominant), compared to growth in India , China and South Korea.
According to the IFPI report, which represents 1,300 record labels in 56 countries, music revenue recorded in the United States and Canada grew by 10.4%, consolidating the region as the area in the world with the highest revenue, representing 39, 1% of the market.
IFPI director and advisor Frances Moore said that the 2019 revenue increase reflects "the result of adaptation by music creators, from record labels to artists".
Moore warned, however, that the current pandemic poses "challenges unimaginable for a few months", and recalls that at this time the priority for companies is efforts to help those affected and "support the careers of artists, musicians and employees worldwide".

State Agency-Brazil