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Global Music Revenue Continued to Rise in 2023. So Why Are Some Music Orgs Sounding the Alarm?
Global music revenue in 2023 continued to rise, but growth has slowed and some markets remain below CD-era levels despite the streaming boom.
21), but major markets such as the United Kingdom, France, Germany, Spain and Japan have already released data that shows 2023 produced another bumper harvest for record labels. SNEP, the recorded music trade group in France, issued a stark warning this week when it announced that the country’s 2023 revenue rose a respectable 5.1% to 968 million euros ($1.05 billion at the average exchange rate in 2023). So, while streaming is creating new opportunities globally for labels, publishers and creators, it hasn’t grown enough to help France recapture revenue lost during the fall of the CD in the 2000s.
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