If you want to learn about the biggest music markets and what the IFPI is, continue reading!
If you want to learn about the biggest music markets and what the IFPI is, continue reading!
The global music market can be divided by its most consumer driven regions.
The US and Japan are the biggest two music markets in the world, with the following countries completing the Top 10 in 2022 and 2023:
3. United Kingdom
4. Germany
5. China
6. France
7. South Korea
8. Canada
9. Brazil
10. Australia
Other countries which have made an appearance in the IFPI Top 10 include Italy, Mexico and Spain.
What is the IPFI?
The International Federation of the Phonographic Industry (IFPI) represents the interests of the recording industry world wide, with a continous growth of music markets as one of its main goals.
As one of the most legitimate music organisations, they have access to raw data and base their observations of the music market on it. Compared to other charts that have limited metrics, the IFPI takes a look at the comphrensive data and verifys it to determine how markets change yearly.
This page records the yearly top artists in streaming and physical sales worldwide- lets make sure to get ENHYPEN on the list for 2024!!
Why is this categorisation important?
The categorisation is mainly important for two things:
Popular artists from bigger streaming markets are likelier to get high placements on Global Charts. Making sure that ENHYPEN charts high in any of the aforementioned countries is guaranteeing bigger placements. This doesn't mean that any of the countries not mentioned here are less important! Growing markets, such as those in SEA, Africa and South America are starting to play a bigger role
IFPI is has legitimate systems in place to make sure that its charts are accurate- even if Hanteo or Gaon (Circle) Album Charts are incomplete or aren't updating their sales correctly,we could see if we have (or had) a legitimate claim regarding ENHYPENs nominatons on Korean Award Shows.
Interesting fact: MANIFESTO: Day 1 was one of the Top 10 physical albums sold worldwide in 2022, according to the IFPI.