This article was originally published in March 2022.
The International Federation of the Phonographic Industry reported Tuesday that global recorded music revenues grew 18.5% in 2021, with much of the growth driven by paid subscription streaming. The report shows total revenues for 2021 were $25.9 billion.
Coronavirus is largely to blame for the uptick in streaming, as most artists have not been able to go on tour, causing them to rely on streaming revenue for income.
As an example, K-pop band BTS loses an estimated $500,000-$1 million per show that they cannot perform.
The pandemic failed to stop these top 10 earning artists from making a combined $2.3 billion in 2021.
- Bruce Springsteen - $590 million
- Jay-Z - $470 million
- Paul Simon - $260 million
- Kanye West - $250 million
- Ryan Tedder - $200 million
- Red Hot Chili Peppers - $145 million
- Lindsey Buckingham - $100 million
- Motley Crue - $95 million
- Blake Shelton - $83 million
- Taylor Swift - $80 million
Here are the top 10 global artists based on consumption:
- BTS
- Taylor Swift
- Adele
- Drake
- Ed Sheeran
- The Weekend
- Billie Eilish
- Justin Bieber
- Seventeen
- Olivia Rodrigo
The top 10 singles were:
- The Weekend - "Save Your Tears"
- The Kid Lario - "Stay"
- Dua Lipa - "Levitating"
- BTS - "Butter"
- Olivia Rodrigo - "Drivers License"
- Justin Bieber - "Peaches"
- The Weekend - "Blinding Lights"
- Olivia Rodrigo - "Good 4 U"
- Lil Nas X - "Montero"
- Ed Sheeran - "Bad Habits"
Photo: Shayne Kaye via Flickr
