There Were 589M Paid Streaming Users in 2022, 9% Increase in Revenues

by Murray Stassen, Music Business News, March 21, 2023

Global recorded music revenues grew 9% YoY in 2022, to reach USD $26.2 billion.

That’s according to IFPI, the organization that represents the recorded music industry worldwide, which launched its Global Music Report 2023 on Tuesday (March 21) at a press conference in London.

In dollar terms, according to the report, global recorded music revenues rose $2.2 billion in 2022, from $24 billion in 2021. In the prior year (2021), global recorded music revenues rose $3.7 billion, from $20.3 billion in 2020.

There were 589 million users of paid subscription accounts at the end of 2022.

Total streaming (including both paid subscription and advertising-supported) grew by 11.5% YoY to reach $17.5 billion in 2022, and accounted for 67% of total global recorded music revenues.

Sub-Saharan Africa (SSA,), for example, became the fastest-growing music region in 2022 with more than 30% growth (34.7%).

More information in the article on the Music Business News site it was initially published.

Download the report here.