Recorded music market 2021 Red letter year
The 20,000 foot view
MIDiA suggested in 2020 that 2021 was going to be a strong year for the recorded music market. Indeed, 2021 turned out to be the fastest-growing year in living memory, with growth across most formats – compared to in 2020, when streaming was the only growth segment. Streaming was the growth engine once more, also registering record growth in 2021.
- Global recorded revenues were billion in 2021, compared to growth in 2020
- Most formats (physical performance and sync but was streaming that saw the growth, up adding a record in 2021 to reach billion
- Streaming represented all recorded music revenues in up from in 2020
- The big in 2021 was the growth non-digital service provider (DSP) streaming, accounted for billion, up from
- DSP revenues billion, up from 2020, reflecting success of label efforts to streaming revenues away from a on DSPs
- For the year, Sony Music Group (SMG) the fastest growing streaming revenues any major, up on 2020 ahead even of artists direct grew by
- Unlike previous market shares were relatively stable only Sony Music (up points and artists direct (up points gaining, while all others went slightly
- For the time since 2017, the major did not see collective market decrease, holding stable at
- All revenue referenced in this report are USD with all conversions from currencies calculated taking the average exchange rate for each quarter the year. No constant currency are used in this report.
- Independent revenue measured on a distribution basis, an ownership basis. Therefore, independent that is distributed via a record label or a wholly major label distributor will appear the revenue of the respective record label.
Companies and brands mentioned in this report : Amazon Music, Apple Music, AWAL, Believe, CD Baby, DistroKid, Epidemic Sound, Kobalt, Meta, Peloton, Snap, Sony Music Group (SMG), Splice, Spotify, The Orchard, TikTok, TuneCore, Twitch, Universal Music Group, Warner Music Group, and YouTube Music.