IFPI’s Post

UK-based body the Night Time Industries Association (NTIA) has published its second annual UK Electronic Music Industry Report. There are plenty of positive stats. Electronic music ranking second among genres on music services in the UK, and 30% of artists playing festivals there are electronic, more than any other genre. However, the report tracks some worrying signs for the sector too. Its measurable impact on the UK economy was £2.5bn last year ($3.16bn at current exchange rates) but that was down 6% year-on-year. Why? Partly a 9% decline in the number of visits to nightclubs for electronic music – down to 90m. The number of clubs also fell by 4% to 882, with a net 31 closing their doors. Read The Full Story Here: https://lnkd.in/e9CfE8Uh #ElectronicMusic #UKMusicIndustry #NightlifeEconomy #musically #musicnews #readmore

Did you know that while the Nigerian music industry is the largest on the continent, South Africa, the second largest music industry, has remained the most profitable music market in the region, bringing in the bigger bucks? Click the link below to find out why 👇 https://lnkd.in/dGfut93y 

Heck yeah! Canada is the 8th largest music market in the world! Some quick Canadian music industry facts below: 1. Canadian music market grew by 12.19% 2. Canadian music revenue exceeded $650 million dollars 3. Canada outpaced the US and World markets Read the full story and celebrate the Canadian music industry! #music #canadianmusicindustry #musicbusiness #musicfinance #musicindustry

[Navigating Music Contracts in Australia] In today's music industry, understanding music contracts is crucial for artists and industry professionals alike. These contracts govern . . . https://lnkd.in/dnnCsQEW

The uninhibited worldwide spread of Nigerian music has made it the newest darling of the global music market. This surge has not only elevated the movement’s commercial viability but also marked significant milestones within Nigeria’s music sector. The International Federation of the Phonographic Industry highlighted sub-Saharan Africa as the world’s fastest-growing music market by revenue for two consecutive years, underscoring Nigeria’s substantial role in this growth.

Aotearoa New Zealand’s music artists can look forward to a raft of changes to NZ On Air’s New Music Project (NMP) funding stream that recognise the increased costs in recording and releasing music to audiences. The changes are in response to industry feedback through NZ On Air’s recent music funding review. They include ending the requirement for financial co-investment as part of the NZ On Air funding, increasing funding by $10,000 to take project funding to $50,000 – in addition to the 10 percent mandatory Artist Creation Fee – and changing the drawdown process from reimbursement to predominantly advances.

⚡ Digital Music Industry in China Reached a Value of 2023 Billion Dollars in 12.5 - In the 2024 China Music Industry Development Report published today in Beijing, the capital of China, the value of the country's digital music industry is estimated to be 2023 billion dollars in 89.

Read this article I wrote about the importance of having a good method for transparency when music is playing in venues and nightclubs. https://lnkd.in/eMTzEyEs

British labels body the BPI (British Phonographic Industry) has published its annual ‘All About The Music‘ report, offering all manner of stats about the UK’s recorded music market in 2023. Quite a few of those figures have already been published, either in the body’s January music consumption report or its March trade-revenues release. So for the release of the new report, the BPI has zeroed in on a fresh topic: independent music. The report notes that independent companies accounted for 29.2% of ‘album equivalent sales’ in the UK last year. That percentage has been rising slowly but steadily in recent years, from its 25% mark in 2019. Indies’ share of physical sales is even higher: 39.1% of vinyl LPs and 32.8% of CDs. The report includes a table of the leading indies, led by BMG (with 1.7% of overall album equivalent sales) followed by Beggars Group (1.3%), Sony-owned AWAL (0.9%) and Domino Recordings (0.7%). Read Our Analysis Here: https://lnkd.in/dWSNjg_G #BPIReport #IndependentMusic #UKMusicTrends #musically #musicnews #readmore

To all the individual artistes creating music, here's an article worth exploring! https://lnkd.in/eqbMyKAD #music #enthusiasts #youtube #online #siffyoungartiste #mbw #market #marketanalysis