Global recorded music revenues rose 18.5% last year driven by an increase in listeners tuning into paid subscription streaming, marking the market's seventh consecutive year of growth to a record $25.9 billion, according to a report released on Tuesday.
Meanwhile, a recovery in physical retail following COVID-19 lockdowns allowed physical music formats to enjoy growth for the first time in 20 years, IFPI, a trade body for the recorded music industry, said in its Global Music Report
