UK-based MIDiA Research released its annual report of global recorded music revenue.The main points:
$31.2-billion total revenue
$20-billion is from streaming music - 64.1% of total revenue
$9.2-billion earned by major label UMG
$10.8-billion revenue for indie labels and Artists Direct distribution
Artists Direct share of total is 5.7%
MIDiA's numbers are broadly similar to the recently reported full-year 2022 revenue report from IFPI (RAIN coverage HERE.)
$31.2-billion total revenue
$20-billion is from streaming music - 64.1% of total revenue
$9.2-billion earned by major label UMG
$10.8-billion revenue for indie labels and Artists Direct distribution
Artists Direct share of total is 5.7%
MIDiA's numbers are broadly similar to the recently reported full-year 2022 revenue report from IFPI (RAIN coverage HERE.)
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