Music Ally Focus #10: IFPI Report shows 7.4% growth in global recorded music revenues in 2020, the highest annual total since 2002 – so where did this success come from during a year of lockdown?

Music business news, analysed in brief by Music Ally's Stuart Dredge and Joe Sparrow. Global recorded music revenues grew by 7.4% to $21.6bn in 2020, according to industry body the IFPI, which published its annual Global Music Report this week. That’s a deceleration compared to 2019, but with 2020 being the year of Covid-19, labels will see the latest figures as a success. It’s also the sixth consecutive year of growth, and the highest annual total since 2002, when global revenues were $22.1bn. Joe and Stu dig into the data to see where the money came from during a year of lockdown – and wonder where growth may come from next. 👋 Sign up for Music Ally’s free weekly newsletter, The Knowledge – an at-a-glance overview of the whirling, weird maelstrom that is the modern music industry. Instagram: https://www.instagram.com/musicallybiz Twitter: https://twitter.com/musically Facebook: https://www.facebook.com/musicallyfb