The global music industry showed its fourth consecutive year of growth, with an increase of 9.7% in 2018, according to data reported in IFPI’s annual State of the Industry report, fuelled by a 34% increase in streaming revenue that accounted for 47% of the trade’s income.
Overall, Canada’s 2018 recorded music revenues totalled US$4412.M (C$572M). By sector, streaming led with revenue of US$264.8M. Physic sales earned US$64.4M and performance and sync income in the year totalled US$47.8M.
Canada music revenues by format – that includes streaming, downloads and physical sales of CDs and vinyl – increased, from US$374.7M in 2017, to US$393.4M in 2018, although compact disc unit sales almost halved, from 10.35M to 5.40M in the same period.
A 0.5% increase in Canadian market revenue growth appears small in the IFPI report; however, the total is skewed by a fall in performance rights offsetting the 5% growth reported in total physical and digital. Growth in performance rights income fell by 30.7% (US$18.2M) to US$41.1M due to a large back payment for broadcast mechanical fees recorded in 2017.
– More statistical data about the Canadian and global markets can be found in full in the IFPI Global Music Report 2019: State of the Industry that can be purchased online. An executive summary in a PDF format can be viewed here.