Music business news, analysed in brief by Music Ally's Stuart Dredge and Joe Sparrow. Global recorded music revenues grew by 7.4% to $21.6bn in 2020, according to industry body the IFPI, which published its annual Global Music Report this week. That’s a deceleration compared to 2019, but with 2020 being the year of Covid-19, labels will see the latest figures as a success. It’s also the sixth consecutive year of growth, and the highest annual total since 2002, when global revenues were $22.1bn. Joe and Stu dig into the data to see where the money came from during a year of lockdown – and wonder where growth may come from next.
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