News - 19/04/2018

Midia: global recorded music industry revenues topped $17bn in 2017

Midia: global recorded music industry revenues topped $17bn in 2017

Midia Research shared a study saying that the global recorded music business generated wholesale revenues of USD $17.4bn in 2017 (up 8.5% year-on-year). According to Midia Research, this figure represented year-on-year growth of $1.4bn, taking the industry back to its highest level since 2008 ($17.7bn). Midia explains that this increase comes after global recorded industry grew by over $1bn in 2016.

One of the most surprising elements of Midia’s figures concerns independent artists: the report says that that ‘self-releasing’ acts collected $472m in 2017, which gave them a 2.7% market share. That $472m figure was up 27.2% from the $371m which Midia calculates independent artists took home the year before.

Universal Music Group claimed the biggest global market share of the major record companies ($5.16bn in revenues, for a 29.7% worldwide share - inclusive of independent artists. Warner saw the strongest growth of any major, generating $3.13bn, or 18% of the global market. Sony generated $3.64bn to claim a 22.1% market share, while the independent labels collectively generated $4.8bn – a 27.6% market share.

These figures are based on distribution revenues.

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