[World Music Market Ranking 2023] Global music sales market growth

General

In March 2023, IFPI released 2022 music market sales data. What stands out most in 2022 is that we were able to confirm remarkable growth in China, the Middle East, South America, and Africa, which are considered to be emerging music countries. Based on the conventional ranking, the current state of the world music market is summarized as an article.

IFPI

World Music Market Ranking 2023

Digital streaming is growing, with the US ranking first. As you can see from the artist news, album sales are increasing rapidly. Record company groups are also expanding globally, and the labels that are increasing their partnerships are already seeing an increase in download sales as a whole. Germany ranks 4th and continues to have high incomes. In South Korea, K-pop maintains a decent ranking. We are trying to attract customers through videos and SNS (X, Twitter), and we are achieving positive growth in each country. 8th, 9th, and 10th place have not changed much.

RankCountryGrowth Rate
1United States+4.8%
2Japan+5.4%
3United Kingdom+5.4%
4Germany+2.2%
5China+ 28.4%
6France+7.7%
7Korea+8.1%
8Canada+8.1%
9Brazil+15.4%
10Australia+8.1%
Source : IFPI

According to the IFPI in 2022, Japan will have unexpectedly achieved positive growth. As will be discussed later, Japan is a country that relies heavily on sales of physical media, but has recorded growth due to an unexpected increase in digital distribution. China made a big leap forward, surpassing France, where the industry itself was sluggish. In addition, Brazil, the largest country in South America, has achieved considerable growth, and expectations are high for the future. Other countries are generally showing positive growth, and we can clearly see that the music industry is expanding globally.

Latest Trends in Global Music Market Rankings

Rank20222021202020192018
1United StatesUnited StatesUnited StatesUnited StatesUnited States
2JapanJapanJapanJapanJapan
3United KingdomUnited KingdomUnited KingdomUnited KingdomUnited Kingdom
4GermanyGermanyGermanyGermanyGermany
5ChinaFranceFranceFranceFrance
6FranceChinaChinaKoreaKorea
7KoreaKoreaKoreaChinaChina
8CanadaCanadaCanadaCanadaAustralia
9BrazilAustraliaAustraliaAustraliaCanada
10AustraliaItalyNetherlandBrazilBrazil

A summary of trends over the last five years. The top five countries were mostly face-fixed, but the French music industry has been unable to grow significantly in recent years and has been overtaken by China. Other than that, it’s pretty much a fixed face, and you can see very well that no major changes have taken place.

china risk

If you look at the trends over the last five years, you will notice that only one country is a communist country. It’s China, which has seen great growth in recent years, but also comes with great risks. Problems with the political system could hinder the growth of the music industry. In recent years, China has become increasingly isolated from the rest of the world, and it is expected that investors will continue to move away from China. Under such circumstances, attention is focused on whether the Chinese music market can grow.

Rise of emerging countries

In recent years, the markets in Africa, Asia and South America have expanded rapidly. Even in the 2022 tally, West Africa will grow by 35%, South America by 25%, and North Africa and the Middle East by 23%. It may not be possible to say that even the top-ranked countries that are safe now will be safe in 10 years.

Why is Japan second?

Previously, I introduced it in the following article, but I summarized why Japan is the second largest music market in the world. It was also surprising that it was ranked 2nd in the 2022 ranking, and that it had a slight positive growth. So why was Japan able to maintain its second place?

audio record decline

The following tally is record production results by the Recording Industry Association of Japan. Looking at this alone, we can see that Japan is steadily declining, but there is no doubt that other areas are also on the decline.

Source : 一般社団法人日本レコード協会

music soft

You can clearly see that music software is clearly on the downtrend. Many people may question why Japan has achieved positive growth.

Source : 一般社団法人日本レコード協会

Rapid growth of music distribution

In fact, there is only one area that is growing rapidly. It’s music distribution. As the music distribution market continues to grow, it is clear that Japan has been able to achieve positive growth. The future of the Japanese market will depend on whether the music distribution market can continue to grow.

Source : 一般社団法人日本レコード協会

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