A Little Knowledge… #57

Welcome to A Little Knowledge #57 – our free weekly LinkedIn newsletter.

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?? BULLETIN NEWS: ?Report reveals?recorded music revenue grew by 10.2% in 2023

Music industry body the IFPI published its annual Global Music Report on Thursday, revealing that recorded music revenue grew by 10.2% to $28.6bn in 2023. That’s the ninth consecutive year of growth for these revenues, with streaming subscriptions firmly in the driving seat.

• Recorded music rightsholders – this report does not cover publishing or live –?saw their revenue from streaming subscriptions grow by 11.2% last year.
• Subscriptions now account for nearly half (48.9%) of the overall market, which by our reckoning means just under $14bn.
• Streaming overall –?including free, ad-supported services –?generated $19.3bn for recordings rightsholders in 2023, up 10.4% year-on-year.
• Guess what grew even faster, albeit from a smaller base? Physical music sales. They were up 13.4% globally in 2023 to $5.1bn –?17.8% of the overall market.
• In percentage terms, the fastest growing regions were Sub-Saharan Africa (up 24.7%), Latin America (up 19.4%), and the Middle East and North Africa (up 14.4%).
• The fastest rate of growth for an individual country came from China, where revenues grew by 25.9% last year.

???Read our coverage in full, including what label execs had to say at the launch event for the report,?here .?

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??MUSIC ALLY: NOW ON WHATSAPP??

The Music Ally WhatsApp Channel is a simple way to stay on top of music business news: every afternoon (UK time), we’ll post the lead story, and also links to the rest of the day’s news. Click here to sign up .

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????PARTNER POST:?Journey to the past – how nostalgia keeps fans engaged

We all have one: a song from?the past that makes us feel good, whether we're?indulging?in a little nostalgia from our youth,?or discovering an older song for the first time.?This week we published a post?by Claudia De Wolff, Vice President, Content & Programming, Vevo – and in it she looks at the songs from the past that have forced themselves back into peoples' playlists, like Sophie Ellis-Bextor's "Murder on the Dancefloor" and?Tracy Chapman's?“Fast Car” . Here's a snippet - you can read the full post via the link below.

"At?Vevo?we’ve seen a major shift in the ways music is discovered and consumed – underscoring a symbiotic relationship between music and other forms of video-focused entertainment. And while these themes point towards the future, one has remained in the past: nostalgia."

"Within the past year alone, we’ve seen the impact and influence of nostalgia take hold with classic 2000s artists like Sophie Ellis-Bextor and Natasha Bedingfield climbing the charts yet again – reawakened by soundtrack spots in major films “Saltburn” and “Anyone But You.”

"These music videos not only bring diverse audiences together and from across the globe, but also serve as incremental audience generators by which artists can expand their reach."?

???You can?read Claudia's post in full?here .

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?? MUSIC ALLY JOBS

The latest and best jobs for the global music business, trusted by both top music industry companies and experienced professionals on top of their game.

Are you looking for a job? Click here to see the full list of vacancies!

?? A LITTLE SOMETHING EXTRA...

?And finally… our daily Bulletin newsletter is loved by subscribers for its instant industry analysis - but secretly, the part they like most is the ‘A Little Something Extra’ section at the bottom of the email. Here's a few of the best recent links:

• Twitter account?Every Better Call Saul Frame In Order ?is, yes, posting every frame from TV show Better Call Saul. In order.
• Well this is not bleak at all: a website that gets you to upload your CV (résumé) so it can?tell you when you're likely to be replaced by an AI .
• Elon Musk?did not enjoy ?being interviewed by journalist Don Lemon.

This is only a glimpse into this week's The Knowledge newsletter – subscribe for FREE ?and every Friday it’ll arrive in your inbox with:

?? Exclusive access to selected courses in our LEARNING HUB; ??? The best new platforms in TOOLS; ??Highlights from our latest COUNTRY PROFILE REPORTS; ?? ?? Some great and/or strange music in SOMETHING 4 THE WEEKEND; ?? A look back in TIME MACHINE; ?? The Music Ally Focus PODCAST; and ?? more links to our favourite unusual stuff in A LITTLE SOMETHING EXTRA.