List of largest recorded music markets explained

The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year. As all financial data is given in US dollars, annual rates of change for all countries other than the United States are heavily influenced by exchange rate fluctuations, as well as by actual changes in revenue in local currency terms.

The information presented in this page only accounts for revenue generated from the recorded music industry (recorded music and auxiliary revenues generated by these recordings), and is not reflective of the entirety of the music industry, including sectors such as publishing, live music, etc.

The United States has remained the biggest market for recorded music in IFPI history, except in 2010 when Japan topped the list. The largest Asian music market, Japan has always stayed within the top two. The other largest music markets by region include the United Kingdom in Europe, Australia in Oceania, and Brazil in South America. Meanwhile, United States, Japan, United Kingdom, Germany, France, and Canada have consistently appeared among the top ten music markets throughout IFPI history. Other countries historically having appeared in the top ten include Italy, Netherlands, South Korea, Spain, China, Russia, and Mexico.

IFPI annual data

2023

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		StreamingPhysicalDigitalPerformance rights Synchronization
1United Statesn/an/an/an/an/an/a
2Japann/an/an/an/an/an/a
3United Kingdom2.87[1] $2,415.32$402n/an/an/a
4Germanyn/an/an/an/an/an/a
5Chinan/an/an/an/an/an/a
6Francen/an/an/an/an/an/a
7South Korean/an/an/an/an/an/a
8Canadan/an/an/an/an/an/a
9Braziln/an/an/an/an/an/a
10Australian/an/an/an/an/an/a
Global total28,60019,3005,1009002,700600
Source: Figures within the table are based on IFPI Global Music Report 2024.[2]

2022

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		StreamingPhysicalDigitalPerformance rights Synchronization
1United Statesn/a84%[3] 11%[4] n/an/an/a
2Japan2,400.0[5] n/a66%[6] n/an/an/a
3United Kingdom1,638.0[7] 86.1%[8] n/an/an/an/a
4Germanyn/an/an/an/an/an/a
5Chinan/an/an/an/an/an/a
6Francen/an/an/an/an/an/a
7South Korean/an/an/an/an/an/a
8Canadan/an/an/an/an/an/a
9Braziln/an/an/an/an/an/a
10Australian/an/an/an/an/an/a
Global total26,20017,5004,6009002,500600
Source: Figures within the table are based on IFPI Global Music Report 2023.[9]

2021

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		StreamingPhysicalDigitalPerformance rights Synchronization
1United Statesn/an/an/an/an/an/a
2Japann/an/an/an/an/an/a
3United Kingdomn/an/an/an/an/an/a
4Germanyn/an/an/an/an/an/a
5Francen/an/an/an/an/an/a
6Chinan/an/an/an/an/an/a
7South Korean/an/an/an/an/an/a
8Canadan/an/an/an/an/an/a
9Australian/an/an/an/an/an/a
10Italyn/an/an/an/an/an/a
Global total25,90016,9005,0001,1002,400500
Source: Figures within the table are based on IFPI Global Music Report 2022.[10]

2020

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		StreamingPhysicalDigitalPerformance rights Synchronization
1United Statesn/an/an/an/an/an/a
2Japann/an/an/an/an/an/a
3United Kingdomn/an/an/an/an/an/a
4Germanyn/an/an/an/an/an/a
5Francen/an/an/an/an/an/a
6South Korean/an/an/an/an/an/a
7Chinan/an/an/an/an/an/a
8Canadan/an/an/an/an/an/a
9Australian/an/an/an/an/an/a
10Netherlandsn/an/an/an/an/an/a
Global total21,60013,4004,2001,2002,300400
Source: Figures within the table are based on IFPI Global Music Report 2021.[11]

2019

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		StreamingPhysicalDigitalPerformance rights Synchronization
1United Statesn/an/an/an/an/an/a
2Japann/an/an/an/an/an/a
3United Kingdomn/an/an/an/an/an/a
4Germanyn/an/an/an/an/an/a
5Francen/an/an/an/an/an/a
6South Korean/an/an/an/an/an/a
7Chinan/an/an/an/an/an/a
8Canadan/an/an/an/an/an/a
9Australian/an/an/an/an/an/a
10Braziln/an/an/an/an/an/a
Global total20,20011,4004,4001,5002,600500
Source: Figures within the table are based on IFPI Global music report 2020.[12] [13]

2018

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		StreamingPhysicalDigitalPerformance rights Synchronization
1United Statesn/an/an/an/an/an/a
2Japann/an/an/an/an/an/a
3United Kingdomn/an/an/an/an/an/a
4Germanyn/an/an/an/an/an/a
5Francen/an/an/an/an/an/a
6South Korean/an/an/an/an/an/a
7Chinan/an/an/an/an/an/a
8Australian/an/an/an/an/an/a
9Canadan/an/an/an/an/an/a
10Braziln/an/an/an/an/an/a
Global total19,1008,9004,7002,3002,700400
Source: Figures within the table are based on IFPI Global music report 2019.[14]

2017

Music markets, with total retail value, and format share (physical/digital)
RankMarketRetail value
US$ (millions)		PhysicalDigitalPerformance rights Synchronization
1United States5,916.1 15%75%7%3%
2Japan2,727.572%21%5%1%
3Germany1,323.1 43%36%20% 1%
4United Kingdom1,310.7 30%50%18%2%
5France925.1 36%34%27%3%
6South Korea494.437%59% 4%0%
7Canada437.221%65% 14%1%
8Australia412.9 19%68%11%2%
9Brazil295.8 5% 60% 34%0%
10China292.33%90%7%0%
Global total17,270n/an/an/an/a
Source: Figures within the table are based on IFPI Global music report 2018.[15]

2016

Music markets, with total retail value, and format share (physical/digital)
RankMarketRetail value
US$ (millions)		PhysicalDigitalPerformance rights Synchronization
1United States5,318.2 18%70%8%4%
2Japan2,745.973%20%6%1%
3United Kingdom1,251.1 32%47%19% 2%
4Germany1,212.0 52%32%16%1%
5France849.5 38%30%29%3%
6Canada367.927%63% 9%0%
7Australia357.2 23%64%11%2%
8South Korea330.135%59% 5%0%
9Italy263.7 41% 34% 22%3%
10Netherlands243.328%43%29%1%
Global total15,700n/an/an/an/a
Source: Figures within the table are based on IFPI Grobal music report 2017.[16]

2015

Music markets, with total retail value, and format share (physical/digital)
RankMarketRetail value
US$ (millions)		% Change PhysicalDigitalPerformance rights Synchronization
1United States4,997.3 1.0%23%66%7%4%
2Japan2,446.73.0%75%18%6%1%
3United Kingdom1,354.00.6%35%44%19% 2%
4Germany1,309.9 –0.3%60%25%14%1%
5France809.1–2.2%42%25%29%4%
6Australia342.86.1%29%57% 12%2%
7Canada335.8 8.3%35%52%11%2%
8South Korea281.312.4%31%62% 7%0%
9Italy265.525.1%44% 31% 22%3%
10Brazil247.0–1.8%25%38%37%0%
Global total14,800n/an/an/an/an/a
Source: Figures within the table are based on IFPI Grobal music report 2016.[17]

2014

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		% Change PhysicalDigitalPerformance rights Synchronization
1United States4,898.3 2.1%26%71%0%4%
2Japan2,627.9–5.5%78%17%3%1%
3Germany1,404.8 1.9%70%22%7% 1%
4United Kingdom1,334.6 –2.8%41%45%12%2%
5France842.8 –3.4%57%27%13%3%
6Australia376.1–6.8%32%56% 9%2%
7Canada342.5 –11.3%38%53%6%2%
8South Korea265.819.2%38%58% 3%1%
9Brazil246.5 2.0%41% 37% 21%1%
10Italy235.2–4.1%51%33%13%3%
Global total14,966-0.4%46%46%6%2%
Source: Figures within the table are based on IFPI 2014 annual report.[18]

2013

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		% Change PhysicalDigitalPerformance rights Synchronization
1United States4,473.5 0.8%30%60%6%4%
2Japan3,012.0–16.7%80%16%3%1%
3Germany1,365.1 1.1%73%21%6% 1%
4United Kingdom1,303.5 2.2%44%44%10%1%
5France956.21.3%64%23%12%2%
6Australia430.8–8.4% 37%54% 7%2%
7Canada424.1 –2.5% 41%50%7%2%
8Italy238.88.3% 56%27%15%3%
9Brazil227.9–1.7%54% 34% 12%1%
10South Korea211.39.7%46%51% 2%0%
Global total15,029.5-3.9%51%39%7%2%
Source: Figures within the table are based on IFPI 2013 annual report.[19]

2012

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		% Change PhysicalDigitalPerformance rights Synchronization
1United States4,481.8 –0.5%34%58%4%4%
2Japan4,422.04%80%17%2%1%
3United Kingdom1,325.8 –6.1%49%39%10% 2%
4Germany1,297.9 –4.6%75%19%5%1%
5France907.6–2.9%64%23%11%2%
6Australia507.46.8% 45%47% 6%2%
7Canada453.5 5.8% 48%43%7%2%
8Brazil257.28.9% 62%27%9%2%
9Italy217.5–1.8%62% 27% 9%2%
10Netherlands216.3–4.7%58%27% 14%1%
Global total16,480.60.2%57%35%6%2%
Source: Figures within the table are based on IFPI 2012 annual report.

2011

Music markets, with total retail value, and format share (physical/digital/streaming)
RankMarketRetail value
US$ (millions)		% Change PhysicalDigitalPerformance rights Synchronization
1United States4,372.9–0.1%42%51%3%4%
2Japan4,087.7–7.0%75%22%2%1%
3Germany1,473.7 –0.2%78%15%6%1%
4United Kingdom1,433.7–3.1%58%32%8% 2%
5France1,002.2–3.7%71%19%8%2%
6Australia475.25.7% 55%38% 5%2%
7Canada434.0 2.6% 54%38%4%4%
8Netherlands240.2–12.1%71%14% 15%0%
9Italy239.9–6.4%68% 20% 9%3%
10Brazil262.68.6% 74%17%8%1%
Global total16,645.9-3.0%61%31%6%2%
Source: Figures within the table are based on IFPI 2011 annual report.[20]

2010

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		VHS cassettes
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
1Japan44.5114.517.5176.54,096.9126.8
2United States1.5225.88.70.4236.43,635.2310.2
3Germany6.898.78.7114.21,713.682.3
4United Kingdom2.499.83.5105.71,388.162.3
5France1.648.43.353.3999.664.8
6Australia0.024.52.60.027.140821.5
7Canada0.225.92.728.8343.233.7
8Italy0.1160.616.7275.458.1
9Netherlands0.516.7221.3270.216.8
10Brazil0.020.77.328258.7201.1
Global total66.4933.278.10.51,078.216,146.8
Source: Figures within the table are based on IFPI 2010 annual report.[21] Total units figures are derived by addition of figures reported by referenced sources.

2009

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		VHS cassettes
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
aaa0000000
1United States1.2292.811.50.63064,562307.2
2Japan43.6125190.01187.64,244.5127.1
3Germany4.7103.38.9116.91,945.882.3
4United Kingdom4.2119.45.0128.61,730.561.1
5France2.8513.457.21,157.564.1
6Australia0.629.440.00234456.222
7Canada30.82.333.1401.633.5
8Netherlands0.717.82.821.3340.616.6
9Italy0.616.60.70.0117.9293.858.1
10Spain0.0215.240.0119.2266.846.7
Global total60.91074.992.60.61,22918,606.2
Source: Figures within the table are based on IFPI 2009 annual report.[22] Total units figures are derived by addition of figures reported by referenced sources.

2008

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		VHS cassettes
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States1.2384.712.30.53985,977.4303.8
2Japan48.3165.417.10.04230.85,171.1127.3
3Germany7.5107.17.41222,37082.4
4United Kingdom6.6131.2 4.5142.32,274.960.9
5France4.753.83.261.71,342.564.1
6Australia1.430.23.90.0435.5555.321
7Canada0.09353.138.253033.2
8Italy0.320.60.60.0721.5742758.1
9Russia70.170.1395.2140.7
10Spain0.0719.81.3 0.0921.26374.345.2
Global totalN/AN/AN/AN/AN/A23,490.0
Source: Figures within the table are based on IFPI 2008 annual report, except where noted below.[23] Total units figures are derived by addition of figures reported by referenced sources.

Notes

2007

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		VHS cassettes
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States3.3511.126.60.95427,985.6303.8
2Japan57.6176.517.10.2251.44,174.5127.3
3United Kingdom11.3139 5.2155.52,696.460.9
4Germany10.6113.39.11332,142.282.4
5France7.962.6 4.979.951,47164.1
6Australia2.633.84.50.00140.9564.820.6
7Canada0.0940.83.30.0344.2561.833.2
8Italy0.425.51.10.00127493.358.1
9Russia0.057575418.8140.7
10Netherlands118.8322.838516.6
Global totalN/AN/AN/AN/AN/A25,258.4
Source: Figures within the table are based on IFPI 2007 annual report, except where noted below.[26] Total units figures are derived by addition of figures reported by referenced sources.

Notes

2006

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		VHS cassettes
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States2.9614.922.20.9640.99,651.4301.1
2Japan63.2197.518.70.2279.64,495.2127.4
3United Kingdom19164.47.3190.73,051.160.8
4Germany15.9114.410.20.08140.52,029.182.4
5France18.375.7 5.70.00299.71,661.763.7
6Canada0.249.13.953.2667.833.4
7Australia4.638.14.146.8583.620.4
8Italy0.728.81.731.2556.958.1
9Spain0.825.92.40.129.2464.844.4
10Russia0.0672.1 72.1405141.4
Global totalN/AN/AN/AN/AN/A28,121.0
Source: Figures within the table are based on IFPI 2006 annual report, except where noted below.[27] Total units figures are derived by addition of figures reported by referenced sources.

Notes

2005

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		VHS cassettes
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States5705.427.86744.211,195295.7
2Japan63.3211.820.10.2295.44,883.5127.4
3United Kingdom26.8172.68.3207.73,330.460.4
4Germany17.8 114.79.60.7142.82,146.482.4
5France25.496.214.70.09136.391,940.360.7
6Canada0.352.54.20.0556.7708.332.8
7Italy131.61.834.4639.858.4
8Australia7.8423.80.00253.6637.720.1
9Spain1.731.1 3.20.236.2547.140.4
10Netherlands220.4 4.60.00127423.116.4
Global total162.01,974.9142.87.52,287.231,595.2
Source: Figures within the table are based on IFPI 2005 annual report, except where noted below.[29] Total units figures are derived by addition of figures reported by referenced sources.

Notes

2004

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		Albums
(millions)		DVDs
(millions)		Total units
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States6.676729809.712,153.4297
2Japan81.3201.320.3255.6 5,167.8127.8
3United Kingdom31.4174.67.7194.1 3,508.759.4
4Germany23.5146.611.5181.3 2,14982.5
5France24.3106.49126.6 1,979.360.4
6Australia9.639.54.547.6 716.719.9
7Canada0.554.84.860.2693.831.7
8Italy1.433.1237.8 652.557.3
9Spain1.3343.538.4 572.841.1
10Netherlands2.723.2 5.329.9 507.716.2
Global total197.82,114.2197.72,755.733,613.64,948.1
Source: Figures within the table are based on IFPI 2004 annual report, except where noted below.[32] Total units figures are derived by addition of figures reported by referenced sources.

Notes

2003

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		LPs
(millions)		Cassettes
(millions)		CDs
(millions)		DVDs
(millions)		VHSs
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States12.11.517.274617.51.611,847.9294
2Japan86.51.44205.818.21.14,909.7127.7
3United Kingdom36.420.9233.96.40.63,215.759.3
4France30.91.42.5117.96.90.52,114.760.1
5Germany26.81.115.5146.89.01.92,022.182.5
6Canada0.9–0.453.14.00.867631.5
7Australia100.050.452.95.10.1673.819.7
8Italy2.80.031.336.21.30.05644.657.4
9Spain3.80.01153.91.50.008595.941.1
10Netherlands3.20.20.0724.64.80.2498.816.1
Global total232.57.3427.22,111.6105.79.432,012.24,882.7
Source: Figures within the table are based on IFPI 2004 annual report, except where noted below.[33] Total units figures are derived by addition of figures reported by referenced sources.

2002

Music markets, with total units sold in various categories, total retail value, and population of market region
RankMarketSingles
(millions)		LPs
(millions)		Cassettes
(millions)		CDs
(millions)		Retail value
US$ (millions)		Population
(millions)
1United States8.41.732.4803.312,325.7285,9
2Japan77.12.24.6228.9 4,593.3127.2
3United Kingdom52.52.21.9221.62,859.45
4France40.50.55130.41,989.759.4
5Germany39.2121.8178.21,988.082
6Canada0.6–1.157587.930.7
7Italy3.60.1444.7554.757.5
8Spain2.20.012.461.7542.339.9
9Australia11.90.030.649.2499.919.3
10Mexico0.60.022.951.1445.5100.3
Global total265.38.54872,253.430,980.94,771,3
Source: Figures within the table are based on IFPI 2004 annual report, except where noted below.[34] Total units figures are derived by addition of figures reported by referenced sources.

1998

Music markets, with total units sold in various categories, and total retail value
RankMarketSingles
(millions)		Cassettes
(millions)		CDs
(millions)		Retail value
US$ (millions)
1United States13,193.4
2Japan6,521.0
3United Kingdom32.2175.72.855.6
4Germany2.832.5
5France2.134.8
6Brazil1.055.7
7Canada11.2969.3
8Spain680.8
9Australia606.7
10Italy597.7
Global total458.81,3002,40038,700
Source: Figures within the table are based on the IFPI annual report and reported by Billboard.[35]

1997

Music markets, with total units sold in various categories, and total retail value
RankMarketSingles
(millions)		Cassettes
(millions)		CDs
(millions)		Retail value
US$ (millions)
1United States11,906.0
2Japan6,261.7
3Germany2,836.8
4United Kingdom2,729.7
5France2,199.5
6Brazil1,199.1
7Canada977.5
8Australia739.1
9Netherlands600.1
10Spain599.9
Global total30,049.3
Source: Figures within the table are based on the IFPI annual report and reported by Billboard.[36]

1996

Music markets, with total units sold in various categories, and total retail value
RankMarketSingles
(millions)		Cassettes
(millions)		CDs
(millions)		Retail value
US$ (millions)
1United States12,300
2Japan6,800
3Germany3,200
4United Kingdom2,700
5France2,300
6Brazil1,400
7Canada912
8Australia815
9Netherlands660
10Italy637
Global total4611,4002,10039,800
Source: Figures within the table are based on the IFPI annual report and reported by Billboard.[37]

1991

Source: Figures within the table are based on the IFPI annual report and reported by Billboard.[38]

Statistics

Country! scope="col"
Geographical
region		Top 10 appearances
(number of years)		Latest year
in the top 10		Highest
rank
United StatesUSA & Canada2520231
JapanAsia2520231
United KingdomEurope2520233
GermanyEurope2520233
FranceEurope2520234
CanadaUSA & Canada2520236
AustraliaAustralasia2520236
ItalyEurope1820217
BrazilLatin America1420236
NetherlandsEurope1220208
South KoreaAsia1120236
SpainEurope920098
ChinaAsia720235
RussiaEurope320089
MexicoLatin America1200210

See also

Notes and References

  1. Web site: UK music retail brought in £2.2 billion in 2023 says ERA. January 2024. 18 August 2024. £2.2 is 2.87 billion dollars.
  2. IFPI Global Music Report 2024. International Federation of Phonographic Industry. London.
  3. Web site: JAPAN MUSIC MARKET. trade.gov. 2023. 18 February 2024.
  4. Web site: JAPAN MUSIC MARKET. trade.gov. 2023. 18 February 2024.
  5. Web site: JAPAN MUSIC MARKET. trade.gov. 2023. 18 February 2024.
  6. Web site: JAPAN MUSIC MARKET. trade.gov. 2023. 18 February 2024.
  7. Web site: UK recorded music revenues rise for an eighth successive year in 2022. 9 March 2023. £1.3 billion pounds equates to around US$1.6 dollars. British Phonographic Industry (BPI). 18 February 2024.
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  35. Legrand . Emmanuel . White . Adam . LeBlanc . Larry . Lannert . John . 8 May 1999 . U.S., U.K. shine in '98 IFPI stats . . 111 . 19 . 1, 72 . Google Books.
  36. Clark-Meads . Jeff . 9 May 1998 . Domestic Push Seen as a Cure for '97's Flat Global Sales . . 110 . 19 . 1, 87 . Google Books.
  37. White . Adam . 10 May 1997 . IFPI Stats Show Top 10 Markets Were Flat in '96 . . 109 . 19 . 1, 74 . Google Books.
  38. Clark-Meads . Jeff . 24 October 1992 . World Music Sales Up 5.5% in '91, But New Markets Falter, IFPI Says . . 104 . 43 . 8, 87 . Google Books.

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