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Awards
- Pure Sound - International Prize for the best audio recording of works of Russian academic music.
2024: Growth of the Russian music market by 20% to ₽32 billion
According to the results of 2024, the music market of Russia amounted to more than ₽32 billion. This is evidenced by the data of the head of the Yandex Music service Alexandra Sagalovich.
As Kommersant writes with reference to Sagalovich, the annual growth of the music streaming market in Russia has reached more than 20%, which is almost twice the global average. The global paid streaming market grew 12.7% in 2024 from 2023, according to investment bank Goldman Sachs.
MIDiA, a company specializing in the analysis of entertainment services markets, estimated Yandex's share in the global subscription music market at 4% as of the end of 2023.
According to the research company GfK, almost every second adult resident of Russian cities has a subscription to a music service, and a third of citizens use paid subscriptions to ecosystems.
New players appeared in the music streaming market in 2024. Rostelecom launched the Wink Music service, and Sberbank PJSC reported 15.5 million SberPrime subscribers in the third quarter, some of which have access to the Sound service.
The Yandex Music platform has 76 million tracks, more than 100 thousand units of content are added weekly, including music compositions, video clips and podcasts. To support artists, the service has launched new promotion tools, including Nitro technology, which helps aspiring performers find their audience.
In 2025, the market growth rate is expected to remain at more than 20%. The main growth factors will be the development of ecosystem subscriptions, the emergence of new artists and demanded releases, as well as the improvement of recommendation technologies and the expansion of the smart device market.[1]
2023: Music industry's total revenue growth of 10% to $45.5 billion
At the end of 2023, the total revenues of the music industry reached $45.5 billion. This is about 10% more than the result for 2022, when the volume of the industry was estimated at $41.4 billion. Such data at the end of November 2024 was published by Will Page, a researcher at the London School of Economics and former chief economist at the Swedish streaming platform Spotify.
The figures presented are based on data from the International Federation of Phonogram Producers (IFPI), the International Confederation of Societies of Authors and Composers (CISAC) and the International Confederation of Music Publishers (ICMP). It is reported that in 2023, the income of record companies and their artists amounted to approximately $28.5 billion: year-on-year growth was recorded at 12%. The rest of the proceeds were provided by music publishers and songwriters.
The study says that revenue from sales of CDs, vinyl records and other physical media has grown more than revenue from streaming music. In particular, sales of vinyl records rose year on year by 15.4%. By the end of 2024, according to Page's estimates, vinyl alone in the United States will bring record brands up to $1 billion, overtaking CDs in sales.
In general, the total income of the music industry in 2023 turned out to be about a quarter more compared to 2021 and twice as high as compared to 2014. Moreover, the figure of $45.5 billion turned out to be significantly higher than the film industry fees, which in 2023 amounted to $33.2 billion (according to Omdia). Digital music distribution channels bring publishers and authors more than broadcasting. The observed trends, as noted, indicate the onset of a period of musical boom.[2]
2022
Russia paid record low royalties to foreign music authors
In 2022, foreign music authors received record low royalties in Russia - 20.7 million rubles. In 2021, this figure was measured at 131.4 million rubles. Such data in October 2023, with reference to the Ministry of Culture of the Russian Federation, were disclosed by the Russian Author's Society (RAO), in favor of which all establishments in which music sounds in the background (bars, restaurants, clubs, etc.), as well as TV channels, radio stations and cinemas.
As RBC writes with reference to this study, in 2022, TV channels, radio stations, cinemas and establishments where music sounded, expelled organizations in favor of all authors of works - both Russian and foreign - 3.2 billion rubles. This is slightly less than in 2021, when fees reached 3.3 billion rubles.
Of this amount, the total payments of RAO to all authors amounted to about 2 billion rubles in 2022 (the amount of total fees may not coincide with the amount of actual payments). The RAO explained to the publication that the lower the fees, the less the payment.
 | This is a direct dependence - if fees are reduced, then the amount of remuneration to be distributed also decreases, they explain in society. In addition, the amount of payments directly depends on the amount of remuneration that RAO itself distributes. If less remuneration is distributed than for the previous period, then it will also be paid less, - said the representative of the organization. |  |
RAO also noted an increase in interest in domestic content by about 30%.
The organizer of the international forum of the music industry Colisium, Sergei Babich, attributes the decrease in payments to the fact that since the coronavirus pandemic COVID-19 Russia , almost no foreign artists have come to, as well as the lack of technical ability to transfer money abroad.[3]
9% growth in global recorded music sales to $26.2 billion
At the end of 2022, the volume of the global recorded music market reached $26.2 billion. This is approximately 9% more than the result for the previous year. Such data are given in a study by the International Federation of Phonogram Producers (IFPI), the results of which were published on March 21, 2023.
The report said cash receipts from subscription audio streaming increased year-on-year by 10.3% to $12.7 billion. As of the end of 2022, there were 589 million users of paid subscription services globally. The total volume of streaming (including both paid subscriptions and supported by advertising) grew by 11.5% and reached $17.5 billion. This corresponds to approximately 67% of the global market.
Revenue from physical media rose 4%. At the same time, as noted in the report, revenue from execution rights increased by 8.6% and returned to the pre-pandemic level.
In 2022, income from recorded music grew in all regions of the world. Asia Thus, it showed an increase in sales by 15.4%, while its largest market, Japan showed an increase of 5.4%. China The increase was recorded at the level of 28.4%. In general, Asia accounts for almost half of the world's income from physical carriers (49.8%). Revenues in the To Europe second largest recording region in the world increased by 7.5%: while growth was recorded in the three largest markets in the region - in (+ Britain 5.4%), (+ Germany 2.2%) and (+ France 7.7%). In Latin America, there is an increase in sales of 25.9%. The region and - USA Canada the largest in the world in terms of revenue - rose 5% in 2022. In particular, in the United States, the industry showed an increase of 4.8%, for the first time exceeding $10 billion.
The growth of income of music authors in the world by 26% to 12.1 billion euros
The total income of music authors and composers in the world in 2022 reached 12.1 billion euros, which is 26.7% more than a year earlier. Such data are given in the report of the International Confederation of Societies of Authors and Composers (CISAC) published in October 2023. The study takes into account the admission to the confederation of 225 copyright societies in 116 countries of the world.
According to the authors of the report, whose data is provided by Kommersant, the income of music authors increased by 19.8% compared to 2019, when there was no COVID-19 coronavirus pandemic yet.
| | Everything that we see now, after COVID-19 and the difficult situation in the economy, is a new challenge of an existential nature, I mean the growing influence of artificial intelligence. AI will radically change the world of authors and the entire creative industry. It will require attention from the international community and representatives of the entire creative industry, - said CISAC President Bjorn Ulvaeus - musician, performer and producer, former member of the ABBA group. | |
The income of authors and composers has developed from three sources - digital sales and streaming, broadcasts (radio and TV) and concert performances. In 2022, digital royalty fees rose by almost a third to 4.2 billion euros. At the same time, "live" performances (concerts, exhibitions, etc.) brought copyright holders about 2.68 billion euros.
The highest growth was shown by the dynamics of income from concerts and other live performances, which last year began to actively take place around the world after the lifting of coronavirus restrictions. The growth compared to the previous year amounted to 69.9% - up to 2.7 billion euros. CISAC notes that "after almost three years of shocks due to the COVID-19 pandemic, the dynamics of copyright revenue returns to normal progressive growth during each subsequent year."
According to the report of the International Federation of the Phonographic Industry (IFPI,), revenue growth from the sale of recorded music in the world slowed down sharply in 2022, but still grew by 9% at the end of the year. In absolute terms, we are talking about a figure of $26.2 billion.[4]
Notes
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