While 2021 saw an 18.5% growth, largely due to an increase in streaming numbers as the world waited at home for the pandemic to lift, a growth in global streaming numbers powered the past year’s lift, which showed total trade revenues for year at $26.2 billion. Subscription audio streaming revenues increased by 10.3% to $12.7 billion, and there were 589 million users of paid subscription accounts at the end of 2022, according to the report.
Source: Global Music Revenue Growth Slowed in 2022, But Still Rose 9% to $26.2 Billion