2017 was a banner year for the global music industry. Music revenues reached $17.4 billion in 2017 in trade values, up from $16 billion in 2016, an annual growth rate of 8.5%. That $1.4 billion of growth puts the global total just below 2008 levels ($17.7 billion) meaning that the decline wrought through much of the last 10 years has finally come to an end.
Recently, MIDia compiled all the data related to 2017 music revenues to create the graphic you see above. The image represents how the industry’s massive year was divided amongst the various key players, as well as how little ultimately went to independent talent (2.7%, to be exact).
Where do we go from here? The future is not clear, but it is bright. The revenues in 2017 were higher than that of 2016, and pending some unforeseen setback the industry will likely continue to grow this year. Follow Haulix on Twitter for updates.