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European Music Market at Risk of Falling Behind Other Global Regions: IFPI
In a Europe music market report for 2023, the region's growth rate is reported to be slower than China and other regions, including Mexico and MENA.
The recorded music market in Europe is at risk of falling behind other global regions unless regulators enforce tougher protections for artists, creators and rightsholders, according to a new report from international labels trade body IFPI. While that places the EU below only the U.S. in total revenue terms, several other international markets are significantly outpacing its growth rate thanks to the widespread global adoption of music streaming services. When it comes to individual EU markets, the report highlights the continued strong performance of domestic acts in their home countries.
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