Recorded music revenues hit $21.5 billion in 2019

Global recorded music industry revenues grew by 11.4% in 2019 to reach $21.5 billion, an increase of $2.2 billion in 2018, and the fifth year in a row the revenue grew, Midia reports. Of that total sum, $11,9 billion came from streaming music. The major record labels took 67.5% of the overall market in 2019. Artists without record labels was again the fastest-growing segment of the market, growing by 32.1% in 2019 to reach $873 million, representing 4.1% of the total market, up from 1.7% in 2015.