Music is a universal language, as we all know, but the way it’s consumed can vary dramatically around the world. From digital streaming to physical sales and live concerts, every country has its unique trends and preferences. We wanted to see which are currently the biggest markets when it comes to music sales and consumption, to get a clearer picture of how people enjoy music around the world, and what kinds of music they listen to. So, based on the latest research by IFPI, here’s a closer look at the top 10 global markets for music consumption and what makes each of them so influential in shaping the global music industry.
1. United States
The United States stands as the world’s largest music market, with recorded music revenues reaching a record high of $17.1 billion in 2023, marking the eighth consecutive year of growth. Streaming services dominate this market, accounting for 84% of total revenues, equivalent to $14.4 billion. Platforms like Spotify, Apple Music, and Amazon Music lead the way, with social media platforms such as TikTok also driving music discovery and viral trends. The U.S. is home to major record labels, numerous independent artists, and a thriving live music scene, solidifying its position as a powerhouse in both consumption and production.
2. Japan
Japan holds the second spot globally and is unique for its enduring preference for physical music formats, particularly CDs. In 2023, physical sales accounted for a significant portion of Japan's music revenue, reflecting the country's traditional consumption habits. Idol groups like AKB48 and global J-pop stars such as Hikaru Utada lead in sales. While streaming has grown in recent years, the Japanese market continues to support physical formats robustly. Karaoke culture and anime soundtracks also play substantial roles in music consumption.
3. United Kingdom
The U.K. ranks as the third-largest music market, contributing nearly 10% of the world's music consumption, despite having only 1% of the global population. Streaming services are predominant, but vinyl records have also seen a resurgence, with sales reaching their highest level in decades. Festivals like Glastonbury and a vibrant indie scene make the U.K. a trendsetter in the global music landscape.
4. Germany
Germany is the fourth-largest market, with a balanced mix of physical sales and streaming. The country has a strong tradition of classical and electronic music, alongside a growing hip-hop scene. Festivals like Rock am Ring and an emphasis on high-quality audio formats reflect the German listeners' appreciation for quality over quantity.
5. China
China’s music market has experienced significant growth, driven by its massive population and the popularity of streaming platforms like Tencent Music, QQ Music, and NetEase Cloud Music. In 2022, China joined the top five biggest music markets globally, reflecting its rapid expansion. With strict copyright enforcement and a focus on local artists, China is emerging as a leader in Asia’s music industry. K-pop, C-pop, and Western pop also have strong followings in this part of the world.
6. France
France’s music scene is characterized by its support for local artists and a deep appreciation for diverse genres. Platforms like Deezer and Spotify dominate streaming, but traditional chanson and electronic music remain cornerstones of French musical identity. Fun fact: laws requiring radio stations to play a certain percentage of French-language music help sustain its cultural heritage.
7. South Korea
South Korea has made a significant impact globally, largely due to the explosive popularity of K-pop. In 2023, South Korea's music industry saw record album sales and streaming revenues of $1.3 billion from its four largest agencies. Platforms like Melon and Genie are key to local consumption, and South Korea also exports a significant amount of its music, extending its influence far beyond its borders.
8. Canada
Canada also boasts a thriving music industry, with major stars like Drake, The Weeknd, and Justin Bieber leading the charge. Streaming is the primary mode of consumption, and the country’s diverse population helps foster a wide array of genres. Festivals like Osheaga and Toronto’s Caribbean Carnival showcase Canada’s multicultural music scene.
9. Brazil
Brazil is the largest music market in Latin America, with streaming accounting for a significant portion of its revenue. In 2023, Brazil experienced a 13.4% increase in music revenues, reflecting the growing influence of streaming platforms like Spotify and YouTube. Samba, bossa nova, and sertanejo dominate locally, while international genres like reggaeton and pop are also popular. Carnival season brings a massive spike in music-related activities, highlighting the country's rich musical heritage.
10. Australia
Australia rounds out the top 10, with a strong love for live music and festivals like Splendour in the Grass and Laneway Festival. Streaming services are the primary way Australians consume music, but the country’s indie and alternative scenes are also thriving. Local artists like Tame Impala and international acts alike benefit from Australia’s robust music market.
These 10 countries represent the heartbeat of global music consumption, each with its unique trends and preferences. From the streaming giants of the U.S. and China to the physical sales dominance in Japan and Germany, the diversity in how music is consumed worldwide highlights the industry’s adaptability and growth.
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