Music listeners in Europe have become loyal fans of domestic artists, with local acts dominating the top ten charts in their respective countries.
However, the continent lags behind the rest of the world, both in terms of music exports and growth in recorded music revenue.
What the inauguration said EU music A report released by the Global Recorded Music Industry Group on Tuesday (September 10) international federation of food industry.
The report contains some eye-opening statistics about the popularity of domestic music in EU countries, reflecting the growing preference for local music in many countries, especially in Europe.
MBW The growth of local music acts in many European countries has been previously reported, but the 2023 data in the IFPI report shows that this trend has reached an almost extreme level, with non-EU music acts being completely excluded, or almost completely excluded from the top music outside.
In 2023, nine of the top 10 singles in Denmark, Finland and Sweden were domestic, with only one American artist — miley cyrus – Made it into the top ten in every country.
Croatia and Italy also have nine local acts in the top 10 list, while in Greece and Hungary, all One of the top 10 tracks is domestic.
Local acts also dominate in Poland (8 out of 10), France and Germany (7 out of 10).
In fact, overall, 60% of the top 10 tracks in the 22 EU markets tracked by IFPI each year are by domestic artists, compared with 47% in non-EU markets.
Growth in recorded music revenue varied widely across countries in 2023, with less developed Eastern European countries and Italy showing the strongest growth, while the larger, more mature music markets of Western Europe lagged.
Music recording in Bulgaria is growing fastest and at an incredible rate Annual increase of 44%followed by the Baltic States (up Annual increase of 21.2%), Italy (Part 1) Annual increase of 18.8%) and Poland (top Annual increase of 18.3%).
The country with the slowest growth is Finland (rising Annual increase of 3.7%), France (Part 1 Annual increase of 4.4%) and the Czech Republic (top 4.5% compared with the same period last year).
For the EU as a whole, recorded music grows Annual increase of 8.7% 2023.
Given that the overall growth of the EU economy is only Annual growth of 0.4% According to reports, by 2023 eurostatand shows the growing importance of the music industry to the EU economy.
From a global perspective, however, the picture is less impressive: the growth of recorded music in the EU is much slower than in China ( Annual increase of 25.9%), Sub-Saharan Africa (Part 1 Annual increase of 24.7%), Mexico (top Annual increase of 18.2%) and Middle East/North Africa (up Annual increase of 14.4%).
Still, it performed slightly better than other comparable developed markets such as the U.S. (up Annual growth of 7.2%), Japan (Part 1 Annual growth of 7.6%) and the UK (on Annual increase of 8.1%).
Where the EU really falls behind is in exporting music outside the continent. In 2023, EU exports 25 Top 10 songs.
Far behind the United States 113 songs including 28 Miley Cyrus alone has written more than all the countries in the European Union combined. It also trails second-place Colombia (48 song), Puerto Rico (45 song), UK (29 song), South Korea (16 songs) and Nigeria (15 song).
The export prowess of these countries is a testament to their popularity latin music Worldwide and, to a lesser extent, popular Korean pop music and african rhythm.
Indeed, Latin music has come to dominate the Latin American music market as much as its European roots—according to Spotifylatin music is 94% all streams in Argentina, and 88% Of all the music streams in Mexico, European music has not had the same success outside of its own market as Latin music.
In fact, among 25 Of the EU tracks that reached the top 10 outside their own country, 24 reached the top 10 in other EU countries. Only one artist – French David Coulthard – Appear in the top 10 list outside the EU (Canada) in 2023.
“The data in this report show us that the rest of the world is developing and growing rapidly, while the EU risks falling behind,” said IFPI CEO Victoria Oakley explain.
“Policymakers have an opportunity to help us correct this problem by ensuring there is a well-functioning internal market, providing legal certainty and protection for music rights holders, supporting the development of responsible and ethical artificial intelligence, and creating a Today’s dynamic music industry can thrive in a highly competitive competitive environment.
“Today, European music faces huge risks, but also huge opportunities. How policymakers address these issues will help determine its future.
Victoria Oakley, IFPI
The IFPI report highlights the economic impact of recorded music on the EU economy, citing data from a 2020 report by Oxford Economics showing that every euro directly invested or generated by EU record companies contributes an additional E1 to the GDP of other regions. 80 The value chain of the music industry.
“Today, European music faces huge risks, but also huge opportunities. How policymakers address these issues will help determine its future,” Oakley said.
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