Engagement with streaming drives growth of the global music market
Global growth by region 2022
the total value
of the recording
industry in 2022
growth in paid
streaming revenues in 2022
of global industry
revenue comes from
is invested in A&R and
marketing by record
Global recorded music revenues by segment 2022
In 2022, global recorded music revenues posted growth of 9.0%. This was the eigth consecutive year of global growth. Revenues increased in every region.
Digital revenues have increased steadily over the past few years and streaming continued to be the dominant format globally, accounting for 67.0% of global recorded music revenues after increasing by 11.5% in 2022. By the end of that year, there were 589 million users of paid subscription accounts globally.
Global Music Listening Habits
Music has abiding meaning and value to people. Within cultures worldwide, music is tightly woven into the fabric of life. It plays an irreplaceable role in providing entertainment, constructing identity, communicating feeling and emotion, and offering both a shared human experience and one that is highly individual.
For most people, the ways in which we listen to, discover, and consume music have changed rapidly in recent years. IFPI conducts original research into music consumption in order to better understand the habits and meaning invested in music across the globe within a continually developing music landscape. IFPI released the Engaging with Music 2022 report in November 2022. The report examined the ways in which music listeners engaged with recorded music across 22 of the world’s largest music markets.
Engaging with Music 2022 highlights:
Time spent listening to music each week – up from 18.4 hours in 2021. That’s the equivalent of listening to an additional 34 3-minute songs a week.
Listened to music using subscription audio streaming.
Music supports people’s mental and physical wellbeing. Nearly seven in ten people said music is important to their mental health and 69% also said it is important when they exercise.
Over three quarters of people think there are more ways to listen to music than ever before.
Over 500 genres were chosen by study respondents when asked the music they listen to.
Almost a third of people use unlicensed or illegal ways to listen to or obtain music. This rises to 43% in people aged 16-24.