That’s according to IFPI, the organization that represents the recorded music industry worldwide, which published its annual Global Music Report today (March 23) revealing that global recorded music revenues reached $21.6 billion in 2020. IFPI reports that there were 443 million users of paid subscription music streaming accounts at the end of 2020. Streaming revenues grew by 30.2% in Latin America and accounted for 84.1% of the region’s total revenues. In Asia, revenues grew 9.5% and digital revenues surpassed a 50% share of the region’s total revenues, for the first time. The US and Canada region grew 4% in 2020, with the US market up 7.3% and Canadian recorded music revenues grew by 8.1%.

Source: The North Africa Journal March 23, 2021 15:01 UTC