A Little Knowledge... #8

?? BULLETIN NEWS: The IFPI reveals the latest data for the global music industry in its Global Music report

The global music industry made $26.2bn from recorded music in 2022, according to the IFPI. That’s up 9% year-on-year.

• The figures are from the industry body’s annual Global Music Report, which was published this week
• It also reveals an 11.5% growth in music streaming revenues to $17.5bn, with streaming now accounting for more than two thirds (67%) of the global recorded music market. That’s up slightly from 65% in 2021
• Meanwhile, revenues from audio-streaming subscriptions grew by 10.3% to $12.7bn in 2022
• 589 million people were using paid subscriptions at the end of the year, up from 523 million at the end of 2021. These figures are total trade revenues (what the industry earned) for recorded music only – they do not include music publishing or live music revenues
• Read our story for full analysis of the report and some of the trends that it reflects: from high-potential markets and licensing battles to the major labels’ hopes and fears for creative AI technology
• Talking of whom, representatives from the three majors, as well as IFPI boss Frances Moore, took part in a press conference ahead of the launch. Read our report on what they had to say here

 ?? Music Ally archive: IFPI

??  COUNTRY PROFILE: Will Canada pioneer the promotion of local content on streaming services? (?? subscriber only content)

With a booming digital music industry and huge domestic stars like Drake, Canada looks like one of the most successful music markets globally:

• In 2022, on-demand audio streaming grew 14.0% and total digital music consumption increased 12.3% year-on-year
• Canadian collecting society SOCAN revealed a 6% rise in domestic collections in 2021 to CAN $416m (US$ 308.1m) and a 30% uptick in total collections from internet use of music
• The country also looks set to be the stage for a particularly intriguing battle as to the future of local content on streaming services, in the form of the Online Streaming Act, currently before the Canadian Senate
• If it becomes law, the Act will oblige streaming services in Canada to promote local music, in much the same way that conventional radio and television broadcasters do.

?? Read the full profile here (?? subscriber only content)

?? 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 and a couple of Knowledge extras:

• "Why Are All Action Heroes Named Jack, James, or John?" 
• The latest use for image-creating AIs: “Making pictures of Trump getting arrested while waiting for Trump's arrest.” And yes, this is the light-hearted bit of our bulletin, but the quality of these fake photos to many eyes is a sharp reminder of how believable (certainly to non-expert eyes) such images can be
• Our favourite trombone-based music game is getting an ‘autotoot’ feature. 
• If you, like us, are a nerd for the creative process of recording music, enjoy this audio recording of Daft Punk and Todd Edwards working on 2013 track ‘Fragments of Time’

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

?? Exclusive 50% discounts on selected courses in our LEARNING HUB ??? The best new platforms in TOOLS, ?? ?? Some great and/or strange music in SOMETHING 4 THE WEEKEND, ?? A look back in TIME MACHINE, ?? The Music Ally Focus PODCAST, ??  Our latest COUNTRY PROFILE reports and ?? more links to our favourite unusual stuff in A LITTLE SOMETHING EXTRA.