IFPI Global Music Report 2020: Music Sales Rise For Fifth Straight Year to $20 Billion

Global music sales grew for the fifth consecutive year in 2019 with streaming accounting for more than half of all label revenue for the first time, according to the International Federation of the Phonographic Industry’s (IFPI) “Global Music Report 2020.”

Total revenues climbed to $20.2 billion, a rise of 8.2% on the previous year. Driving the growth was a 23% rise in streaming revenues, which totaled $11.4 billion, accounting for 56% of all sales and offsetting a 5.3% fall in physical sales.

Click here to read more from Billboard.