The global music market grew 18.5% in 2021, with Latin America at the forefront – El Sol de México

LONDON. The world market for music grew 18.5% in 2021, driven by streaming, with Latin America as “one of the regions with the most potential,” the International Federation of Music said on Tuesday. Phonographic Industry (IFPI)which groups the main record companies

After dedicating a few words of solidarity to Ukraine, the CEO, Frances Moore, revealed that the income of the sector in 2021, which amounted to $25.9 billion “the biggest ever recorded”, with an expansion in all territories and formats, except for the digital downloads.

After the Middle East and North Africa region, which grew 35%, Latin America, driven by Mexico and Brazil, was the region with the largest increase in earnings, with 31.2%.

Physical formats expanded a 16.1%; rights of acting contributed 4% more and synchronization (use of music in cinema or advertising) rose 22%.

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The musicians The most popular in 2021 were BTS, Taylor Swift, Adele, Drake, Ed Sheeran, The Weeknd, Billie Eilish, Justin Bieber, Seventeen and Olivia Rodrigo, according to IFPI. 30by Adele, was the best-selling album in all formats, including vinyl.

“The market is more competitive than ever,” because “anyone can record a song and put it on the web,” Moore said. But while this creates “huge opportunities for artists”, it also makes it harder for them to stand out, with more than 60,000 tracks being uploaded every day. digital platforms.