The International Federation of the Phonographic Industry (IFPI) announced on March 23 that paid streaming, with approximately 443 million subscribers, boosted the global music industry, which achieved a 7.4% growth in 2020. Digital music streaming platforms, including Spotify, Apple and Deezer, generate 62.1% of global revenue from music.
Leading sales in 2020 is the successful South Korean group BTS, followed by the renowned artists Taylor Swift, Drake, The Weeknd and Billie Eilish. In this scenario, the songs Blinding Lights, by The Weeknd, and Dance Monkey, by Tones and I, surpassed the milestone of 2 billion views.
Growth of 8.4% was also observed in 2020 in the African and Middle Eastern markets, which included leadership of the Grammy Award winner Burna Boy, from Nigeria, as well as 23.5% in vinyl revenue. On the other hand, the CD indices are still falling, at 11.9% according to the IFPI report.
More information is available, in Portuguese, in https://cultura.estadao.com.br/noticias/musica,mercado-mundial-da-musica-cresceu-7-4-em-2020-impulsionado-pelo-streaming,70003657916#:~:text=O%20mercado%20global%20da%20m%C3%BAsica,da%20Ind%C3%BAstria%20Fonogr%C3%A1fica%20(IFPI).