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Global music market worth increased by 18 per cent in 2021 to £19.5billion
BTS, Adele and Taylor Swift contributing to a £19.5billion increase.According to industry trading body International Federation of the Phonographic Industry (IFPI) in a new report published Tuesday (March 22), revenues for global recorded music grew by 18.5 per cent in 2021, totalling £19.63billion (US$25.9billion), largely driven by increases in paid subscription streaming.The report stipulates there were 523million users of paid subscription accounts at the end of 2021 – up from 443million in 2020 – generating an increase of 21.9 per cent, or £9.32billion (US$12.3billion).Streaming in 2021 accounted for 65 per cent of total revenues, while downloads equated to four per cent, 19 per cent made up by CDs, vinyl and cassettes.According to IFPI, this means the industry is in its seventh consecutive year of growth, IFPI chief executive Frances Moore told the BBC: “We lived through that dire period after 1999 where the industry declined by 40 per cent.Recorded music revenues grew in every region in 2021. Asia grew by 16.1 per cent, with South Korean superstars BTS the biggest-selling act for the second consecutive year.After being named 2020’s second-biggest seller, Taylor Swift achieved the same position in 2021, with Adele, having released her fourth studio album, ’30’, in November, sold 4.7million copies, making it the most popular album overall.Similar results were seen in Europe – the world’s second-largest music region – with a growth of 15.4 per cent up from 3.2 per cent.
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Adele and The Weeknd have the biggest-selling records of 2021
Adele’s latest album ’30’ and The Weeknd’s ‘After Hours‘ single ‘Save Your Tears’ were the world’s best-selling records of 2021.Music industry body the International Federation of the Phonographic Industry (IFPI) has revealed that Adele’s 2021 album sold more than five million copies in two months. It’s also the biggest-selling record on vinyl and CD.The Weeknd’s ‘Save Your Tears, which was released in 2020, topped the charts in 18 countries and was streamed 2.15billion times. In 2020, The Weekend also had the biggest record of the year with his other ‘After Hours’ single ‘Blinding Lights’.You can see the rankings below.Top 10 global singles 2021:01 The Weeknd – ‘Save Your Tears’ (2.15billion streams)02 The Kid LAROI, Justin Bieber – ‘ STAY’ (2.07billion streams)03 Dua Lipa – ‘Levitating’ (1.88billion streams)04 BTS – ‘Butter’ (1.76billion streams)05 Olivia Rodrigo – ‘drivers license’ (1.73billion streams)06 Justin Bieber (ft. Daniel Caesar, Giveon) – ‘Peaches’ (1.72billion streams)07 The Weeknd – ‘Blinding Lights’ (1.61billion streams)08 Olivia Rodrigo – ‘good 4 u’ (1.61billion streams)09 Lil Nas X – ‘MONTERO (Call Me By Your Name)’ (1.60billion streams)10 Ed Sheeran – ‘Bad Habits’ (1.57billion streams)Top 10 global albums 2021:01. Adele – ’30’02. Olivia Rodrigo – ‘Sour’03. Justin Bieber – ‘Justice’04. Ed Sheeran – ‘=’05. The Weeknd – ‘After Hours’06. Dua Lipa – ‘Future Nostalgia’07. The Kid LAROI – F Love (Mix Tape)08. ABBA – ‘Voyage’09. Morgan Wallen – ‘Dangerous: The Double Album’10. Doja Cat – ‘Planet Her’The three album charts compiled by the IFPI (overall sales, physical sales and vinyl) “reflect the truly global nature of the industry today,” chief executive Frances Moore told the BBC, “with albums by artists

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