The Global Music Industry made £10.5 billion in the last year alone. The industry benefited from artists like Adele and Justin Bieber who released new albums and stormed the charts with lots of big hits. 2015 also marked the first time that digital sales overtook physical releases as the main source for music.
Streaming and downloading were aided by the growth of services like Spotify and Apple Music taking a 45% market share of sales, whilst CD physical sales stalled at 39% share despite a bit of a Vinyl resurgence going on across the globe. The best-selling artists of the year are as follows:
Best-selling artists worldwide in 2015 (Source: IFPI)
2) Ed Sheeran
3) Taylor Swift
4) Justin Bieber
5) One Direction
7) Maroon 5
8) Sam Smith
10 The Weekend
YouTube is also another key area for music and told the BBC that “Only about 20% of people are historically willing to pay for music. YouTube is helping artists and labels monetize the remaining 80% that were not previously monetized. The global advertising market is worth $200bn (£140bn). This is a tremendous opportunity“. Here’s to an even bigger music industry next year.