![]() ![]() And the most dramatic rate of growth came from Sub-Saharan Africa, with a 34.7% increase in revenue in 2022, led by South Africa, the region’s largest market.īehind the numbers, of course, is the music. The Middle East and North Africa had the world’s third-largest growth rate, with an increase of 23.8%. Every market in Latin America saw double-digit percentage growth, contributing to a regionwide rise of 25.9%, its 10th year of increases. This is the most geographically diverse group of honorees yet named to this list, reflecting the economic trends cited by IFPI, the trade organization of the global recorded-music industry.Īccording to IFPI, the growth in several regions of the world far surpassed the global average of 9%: Asia grew by 15.4% overall, with China growing 28.4% and seizing the No. 5 spot among the world’s top 10 music markets by revenue (displacing France, which dropped to No. 6). All have primary responsibility for markets outside the United States, which account for the overwhelming majority of the world’s recorded-music sales. ![]() ![]() Collecting Societies Now Compete to Represent Writers and Publishers for StreamingĪmong those who have contributed to that growth are Billboard’s 2023 International Power Players - executives nominated by their firms and peers and chosen by our editors from selected industry sectors. ![]()
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