In 2021, the music industry increased its revenue by almost 20 percent worldwide.
Total music industry revenue was nearly $26 billion in 2021.
Total streaming revenue increased 24.3 percent.
The music industry, one of the most traditional and oldest, has undergone a strong transformation in recent years with the arrival of social networks and digital platforms, leaving the formats that the old generations They knew about the new strategies and language that young artists like the viral Bizarrap are implementing in their content.
All this has led to reconsider that this sector has left behind “as it was before”, since the streamingmore than CDs or vinyl records, are responsible for the recent growth in records, so their numbers have increased by almost 20 percent in 2021, according to the ifpi annual report the organization representing the music industry worldwide.
The same source concludes that this growth is driven by the increase in streaming, which the IFPI points out is responsible for 65 percent of the sector’s revenues. Therefore, the total income of the music industry worldwide established a new record of almost 26 billion dollars (around 520 million Mexican pesos).
These data demonstrate the vertiginous transformation of the sector, where innovation can disrupt everything and obsolete record label formats, niche music media and even copyright.
The bizarre phenomenon
Digitization, which reached all sectors thanks to the Covid-19 pandemic, has implemented changes in all areas, from the health industry, economics, retail, among others.
before that, Various digital social platforms have emerged, such as TikTok, Spotify, Twitch, among others. But also the new emerging artists, who have risen to global fame just by going viral on social networks without the need to apply the schemes that the best-known singers used in the past to get money from their productions.
This is the case of Bizarrap, a 23-year-old young man who has already marked his name in the industry by being one of the most listened to music producers and DJs on platforms and going viral with the collaborations he has created with artists like Shakira, Trueno, Nathy Peluso, Residente, Nicky Jam, Nicki Nicole or Quevedo.
The fame of this artist has arisen because he has left behind the traditional schemes of the industry, based on the creation of digital content to connect with the millions of followers belonging to generations Z and millennials who live connected to social networks.
In this sense, new terms have emerged such as “session”, which refers to a set of user interactions with your website in a given period. For example, a single session can contain multiple page views, events, social interactions, and e-commerce transactions.
So far the DJ and producer has 53 sessions, some have stood out more than others, which can be demonstrated not only with the numbers he has on the different music platforms, but also because of the support shown by the public at the time of the premiere, as happened this Wednesday, January 11, with the collaboration he made with Shakira, which to date has recorded 40 million views on YouTube.
All this panorama is being applied in many other figures that are monetizing in the field thanks to social networks, for what has come today, that technology is creating new opportunities, where record companies have invested in people and technologies to offer artists new highly creative and interactive opportunities to continue to grow economically.
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