Amapiano music top in Africa

African music grew the fasted in the world in 2022 according to an international music report.

According to IFPI’s global music report, Amapiano from South Africa and Afro beats from West Africa is putting African music on the global map. The growth of music in Subsaharan Africa is attributed to gains in the region’s largest market; South Africa.

African music grew the fastest in the world at 34.7 percent, Asia 15.4 percent. Middle East and North Africa  (MENA), which was the fastest growing market in 2021, had the third highest growth rate in 2022 (23.8%), and representing the highest share for streaming of any region globally (95.5%). Europe, the second-largest recorded music region in the world grew by 7.5 per cent.

The Global music report further observes that music continues to grow globally, and artists are increasingly interconnected with fans as a result of the worldwide infrastructure and investment from record companies.

The global recorded music market grew by 9.0% in 2022 to a record US$26.2 billion in revenue.

local cultures,  recording labels and an increase in subscription companies are cited as the things attributed to the growth of music globally.

Record companies, according to the global music report,  are “building and developing local teams around the world who are on the ground, working with current and emerging artists from a growing variety of music scenes”.

“In an incredibly nuanced market with lots of different cultures and music scenes, we can see how the proactive presence and investment of record companies here is driving the development of healthy music markets, creating opportunities for local artists and fostering local cultures,” said Angela Ndambuki, IFPI Regional Director, Subsaharan Africa.

Subscription audio streaming revenues

Subscription audio streaming revenues increased by 10.3% to US$12.7 billion and there were 589 million users of paid subscription accounts at the end of 2022.  Total streaming (including both paid subscription and advertising-supported) grew by 11.5% to reach US$17.5 billion, or 67.0% of total global recorded music revenues.

There was growth in other areas too with physical revenues remaining resilient (+4.0%); performance rights revenue increasing by 8.6% and returning to pre-pandemic levels; and synchronisation income climbing by 22.3%.

“However, as the opportunities for music continue to expand, so too do the areas in which record companies must work to ensure that the value of the music artists are creating is recognised and returned. This challenge is becoming increasingly complex as a greater number of actors seek to benefit from music whilst playing no part in investing in and developing it,” IFPI Chief Executive Frances Moore, said.

IFPI is the organisation that represents the recorded music industry worldwide, representing more than 8,000 record company members across the globe.