Recorded music revenues reached $31.2 billion globally in 2022

Global recorded music revenues grew 6.7% year over year in 2022 to reach $31.2 billion, according to a new report from Midia Research. This marked a significant drop in estimated 24.8% YoY growth for 2021 versus 2020, MBW reports. Streaming accounted for 64.1% of all recorded music industry revenues in 2022, with revenues estimated by Midia to have grown 8.3% YoY, or by $1.5 billion, to $20 billion in 2022.