Recorded music market 2021 Red letter year
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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.
Methodological notes:
- 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.