The music industry is made up of independent artists and large corporations. These players earn revenue from the production, creation, making, and composing of new songs. Furthermore, there are other avenues such as hosting live concerts.

In this article, you'll learn almost everything you need to know about music industry statistics for 2021.

Without delay, let's get started!

Music Industry Revenue & Followers Statistics

From 1999-2014, the global music industry saw piracy online lead to a fall in revenues of 40%

In due time, 2019 to be exact, revenues from the music industry reached $20 billion!

The 2019 RIAA Music Revenue Year-End Report noted that U.S. music revenues climbed from just $2.6 billion in 2008 to $9.7 billion in 2019.

Coupled with The International Federation of the Phonographic Industry (IFPI) who report that streaming revenues alone increased by a CAGR of 42%.

Breakthrough: Music Platforms

The most popular digital music platforms include streaming services and mobile apps. Notably these include:

• Spotify
• SHAZAM
• YouTube.

All though there is a long way to go, many musicians embrace these platforms in the hope that they will bring the change we need to see. Since their creation, such services have already done a remarkable job of fighting piracy.

Monthly listener snapshot - Spotify June 30 2020:

• First up we have Beatrice Kristi Laus who gained an impressive 30 million monthly listeners.
  
• Secondly, there is the German DJ and producer Topic with a 21 million increase.
  
• Meanwhile, with his hit track “What’s Popping” Jack Harlow gained a total of 18 million monthly listeners.

Top 3 YouTube channel views growth.

• Trevor Daniel with his 2.8K growth percentage and 1.28Million subscribers.
  
• BENEE with an impressive growth of 2k percentage.
  
• Egyptian singer Ramy Sabry with almost 1.6k growth percentage and 28M subscribers.

Top 3 SHAZAM count growth:

• “Some say” by Linnea Södahl but remixed by German Tropical House producer Felix Jaehn
  
• “Breaking me” by Topic 
  
• “Moral of the Story” by Ashe

Breakthrough: Social Platforms

Top 3 trending TikTok tracks of this year:

• Banana by Conkarah(feat. Shaggy)
  
• Sunday Best by Surfaces
  
• 2002 – Anne-Marie(Shaun Reynolds remix).

Top 3 artists with the most follower growth:

• Gabi Martins went from having 1.1 million to 8 million followers
   
• KEVVO gained a total of 2.1 million followers
  
• Nara went from 226k to having over 1 million followers.

Breakthrough: Overall Popularity

Artists with the most CPP rank improvements:

• Phoelix had a dramatic ascend in rank across all the platforms.
  
• Anthony Tubbs saw a fair rise in all platforms because of his regular track releases and features.
  
• Noga Erez gained a lot of fame for her song “Dance While You Shoot”.

Check out more about the breakthroughs from Music Industry Trends From H1 2020.

General Music Industry Statistics

What is the biggest music industry in the world?

The United States is the highest contributor of artists in the music industry.

Artists from different regions of the country have earned themselves places in the highest of the CPP ranks making the country hold the highest share in the music market. 

What is the most listened to genre of music?

The 2019 study on the top 30 playlists of Amazon Music, Apple Music, Deezer, and Spotify classified the songs into their respective genres...

They found that 'Pop' was the leading genre, in each playlist, of the five platforms, making up more than 25% of each of the playlists.

Music Career Statistics

Overview

The US alone makes a total revenue of $43 billion a year from the music industry, of which only $5 billion or 12% goes to the artists.

Production, distribution, handling record labels, streaming, radio companies, and many other intermediaries lie between artists and listeners.

Top 10 Careers in The Music industry

Here are some careers to pursue in the music business:

1. Music Producer
   
2. Music Composer
   
3. Musician 
   
4. Recording Engineer
   
5. Journalist 
   
6. Publicist
   
7. Music Teacher
   
8. Music Director
   
9. Session Musician
   
10. Tour Manager

Love top-10 lists? Get more Top-10 articles from digpu.com.

How Has COVID-19 Impacted the Music Career Industry?

The current pandemic has brought hundreds of different industries around the world to a standstill.

Undoubtedly the music business has been hit hard.

While successful musicians have faced an enormous amount of reduced revenue, many new entrants into the industry have really faced career-threatening losses.

A primary source of earning for such musicians is live shows, maybe in the local fair, or at some club.

However, since social distancing is now strictly established, such events are banned.

And may continue to be for a long time!

Again, the teams and backups of famous musicians also did not have their main source of revenue, as artists often accepted online invitations while concerts and tours were canceled.  

What are the current trends in the music industry?

The music industry continues to work diligently with artists and consumers to provide a sophisticated musical experience. One of the newer and more popular trends is the inclusion of artificial intelligence in music creation and presentation since a hefty amount of time needs to be invested in music creation. 

In terms of the consumer, the music industry places a great deal of emphasis on user preferences. Various streaming platforms work on user preferences and improved algorithms to choose the music of other artists based on data collected on user activities.

The huge potential of this industry is beyond belief. Through consumer support and technological integration, music can be shaped for the greater good of the community. If you find the article interesting you can check out more about the Music industry Trend Statistic.