IFPI silently correcting its revenues number

The IFPI (International Federation of Phonographic Industry) reported that global recorded music revenues in 2018 had totaled $19.1 billion. By May 2020, those 2018 revenues had been slightly downgraded to $18.7 billion, whereas this week, the IFPI says it was actually $17.5 billion, the industry analyst Mark Mulligan of MIDIA noted on Twitter. More of the same - a year ago, IFTI reported $25.9 in 2021 revenues. This week it's much less - an even $24 billion. Global recorded music growth from 2021 to 2022? Nine percent, according to the industry. One percent, according to Mulligan.

The IFPI announced the global recorded music market grew by 9% to $26.2 billion. Except in 2022 they said the 2021 market was $25.9 billion. So that means (when you don't change the 2021 figures to inflate growth) IFPI is saying global recorded music revenues grew by 1%. Yes 1%

— Mark_Mulligan (@Mark_Mulligan) March 21, 2023