Key music industry figures


As the International Federation of the Phonographic Industry (IFPI) has just released its annual music industry report, here are the key points to remember. In 2022, global recorded music revenues grew by 9%, reaching a whopping $26.2 billion. What are the music industry’s driving forces in France and internationally?

Graph of annual sales in the US music industry
As the world’s largest music industry market, the United States generated $15 billion in sales in 2021, including $11.5 billion from streaming. (credit: Courrier International)

Subscription streaming, the driving force of the music industry

While the end of the 20th century was the golden age of physical media, and in particular of the CD, the following decades saw the emergence of digital music. In 2001, when Rhapsody (the forerunner of Napster) was born, physical formats still represented 97% of the music industry’s worldwide turnover. Today, streaming is growing exponentially. With an 11.5% increase in one year, music streaming now accounts for 67% of total global recorded music revenue, or $17.5 billion. In a few years, compact systems have gradually given way to wireless speakers, audio network players, connected amplifiers and smart TVs in the home.

Driven by the giants Spotify, Amazon Music and Apple Music, music streaming continues its meteoric rise. Little by little, each region of the world is accepting the new uses of music. In the Middle East and North Africa, streaming revenues jumped 95.5% in one year! This dramatic increase is due to the work Anghami has been doing since 2012. The company, which means “my songs” in Arabic, is now the industry leader in this region of the world and claims 98 million users, including 1.3 million paying subscribers.

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Vinyl records, the revival of physical media

While digital media are now part of the global music landscape, physical formats do not seem destined to disappear completely. Indeed, vinyl records are making a comeback. In fact, studies conducted by IFPI and Billboard confirm that half of all vinyl buyers do not own a turntable. Virtually forgotten at the dawn of the 2010s, vinyl record sales represented only 1% of physical sales. At the end of 2022 in France, they represent 45% of total sales, due to a subtle combination of nostalgia and a decorative nature.

The physical medium is particularly popular in Asia. Driven by Japan and China, the continent alone accounts for 49.8% of worldwide physical media revenues. While this figure is boosted by the density of the Asian population, it nevertheless marks a real consumer trend.

Illustration of vinyl record shelf
Culturally, physical media is very present in Asia, driven by very accessible video CDs and karaoke. The continent alone now accounts for almost half of the world’s revenue from CD and vinyl sales.

France, a market worth 920 million euros per year

With a 6.4% increase in revenues, the French recorded music market is doing well, as is the European continent (+7.5% on average). For the sixth year in a row, sales in France have increased, reaching a total of 920 million euros at the end of 2022. Logically, three quarters of sales revenues are generated by digital music and one quarter by physical media, which is the exact opposite of the study conducted 10 years ago.

Fiio DAP with music streaming service
Recorded music is mostly consumed via streaming in France, where market giants like Spotify and Deezer have been established since 2007.

Therefore, according to the Syndicat National de l’Édition Phonographique (SNEP), France will cumulate 111 billion streams in 2022, an increase of 19% compared to the previous year. Over the same period, the sale of physical albums (CD and vinyl) represents 16 million copies. Back last year with Civilisation, Orelsan is now in first place of the equivalent CD sales with 215,000 albums.

Civilisation album cover by Orelsan
Thanks to streaming, in 2022 French artist Orelsan sold the equivalent of 215,000 copies of his album Civilisation.

The French public adheres to streaming

For its part, subscription streaming, with 426 million euros, remains by far the leading source of revenue for recorded music in France. This represents a growth of 11% compared to 2021. The IFPI report reveals that France has 16 million users of paid streaming through various platforms such as Qobuz, Deezer and Spotify.

It is now up to music streaming to win over different populations in order to continue its march forward. According to the study published by IFPI, the over 50s are increasingly subscribing to platforms. Yet, the audience remains predominantly young on these services, as proven by the top 5 streamed songs in 2022. Ninho occupies the first two places with the tracks Jefe and VVS, while the Timal / Gazo collab takes the 3rd place with Filtré.

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