Global music sales grew for the sixth consecutive year in 2020, despite the impact of the COVID-19 pandemic, according to the International Federation of the Phonographic Industry’s (IFPI) “Global Music Report 2021.” Total revenues climbed to $21.6 billion, a rise of 7.4% on the previous year. Driving the growth was a 19.9% rise in streaming subscription revenues, which totaled $9.9 billion last year.
Source: IFPI Global Report 2021: Music Revenues Rise For Sixth Straight Year to $21.6 Billion