List of largest recorded music markets

Top 10 largest recorded music markets as of 2024

The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The ranking is based on the retail value (rather than units) each market generates 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 on 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. Japan has always stayed within the top two, while the United Kingdom, France, Germany, and Canada have consistently appeared among the top ten music markets throughout IFPI history. Other countries historically having appeared in the top ten include Australia, Italy, Brazil, South Korea, Spain, the Netherlands, China, Mexico, and Russia.

IFPI annual data

2020–2024

List of the world's top-ten music markets during the first half of the 2020s
Country 2020[1] 2021[2] 2022[3] 2023[4] 2024[5]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
United States 1 n/a 1 n/a 1 n/a 1 n/a 1 n/a
Japan 2 n/a 2 n/a 2 n/a 2 n/a 2 n/a
United Kingdom 3 n/a 3 n/a 3 n/a 3 n/a 3 n/a
Germany 4 n/a 4 n/a 4 n/a 4 n/a 4 n/a
France 5 n/a 5 n/a 6 n/a 6 n/a 6 n/a
South Korea 6 n/a 7 n/a 7 n/a 7 n/a 7 n/a
China 7 n/a 6 n/a 5 n/a 5 n/a 5 n/a
Canada 8 n/a 8 n/a 8 n/a 8 n/a 8 n/a
Australia 9 n/a 9 n/a 10 n/a 10 n/a Out
Netherlands 10 n/a Out Out Out Out
Italy Out 10 n/a Out Out Out
Brazil Out Out 9 n/a 9 n/a 9 n/a
Mexico Out Out Out Out 10 n/a

2015–2019

List of the world's top-ten music markets during the second half of the 2010s
Country 2015[6] 2016[7] 2017[8] 2018[9] 2019[10][11]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
United States 1 4,997.3 1 5,318.2 1 5,916.1 1 n/a 1 n/a
Japan 2 2,446.7 2 2,745.9 2 2,727.5 2 n/a 2 n/a
United Kingdom 3 1,354.0 3 1,251.1 4 1,310.7 3 n/a 3 n/a
Germany 4 1,309.9 4 1,212.0 3 1,323.1 4 n/a 4 n/a
France 5 809.1 5 849.5 5 925.1 5 n/a 5 n/a
Australia 6 342.8 7 357.2 8 412.9 8 n/a 9 n/a
Canada 7 335.8 6 367.9 7 437.2 9 n/a 8 n/a
South Korea 8 281.3 8 330.1 6 494.4 6 n/a 6 n/a
Italy 9 265.5 9 263.7 Out Out Out
Brazil 10 247.0 Out 9 295.8 10 n/a 10 n/a
Netherlands Out 10 243.3 Out Out Out
China Out Out 10 292.3 7 n/a 7 n/a

2010–2014

List of the world's top-ten music markets during the first half of the 2010s
Country 2010[12] 2011[13] 2012[13] 2013[14] 2014[15]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
Japan 1 4,096.9 2 4,087.7 2 4,422.0 2 3,012.0 2 2,627.9
United States 2 3,635.2 1 4,372.9 1 4,481.8 1 4,473.5 1 4,898.3
Germany 3 1,713.6 3 1,473.7 4 1,297.9 3 1,365.1 3 1,404.8
United Kingdom 4 1,388.1 4 1,433.7 3 1,325.8 4 1,303.5 4 1,334.6
France 5 999.6 5 1,002.2 5 907.6 5 956.2 5 842.8
Australia 6 408 6 475.2 6 507.4 6 430.8 6 376.1
Canada 7 343.2 7 434.0 7 453.5 7 424.1 7 342.5
Italy 8 275.4 9 239.9 9 217.5 8 238.8 10 235.2
Netherlands 9 270.2 8 240.2 10 216.3 Out Out
Brazil 10 258.7 10 262.6 8 257.2 9 227.9 9 246.5
South Korea Out Out Out 10 211.3 8 265.8

2005–2009

In 2006, Russia entered the top ten for the first time, staying for three years, with the highest rank at number 9 in both 2007 and 2008.

List of the world's top-ten music markets during the second half of the 2000s
Country 2005[16] 2006[17] 2007[18] 2008[19] 2009[20]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
United States 1 11,195 1 9,651.4 1 7,985.6 1 5,977.4 1 4,562
Japan 2 4,883.5 2 4,495.2 2 4,174.5 2 5,171.1 2 4,244.5
United Kingdom 3 3,330.4 3 3,051.1 3 2,696.4 4 2,274.9 4 1,730.5
Germany 4 2,146.4 4 2,029.1 4 2,142.2 3 2,370 3 1,945.8
France 5 1,940.3 5 1,661.7 5 1,471 5 1,342.5 5 1,157.5
Canada 6 708.3 6 667.8 7 561.8 7 530 7 401.6
Italy 7 639.8 8 556.9 8 493.3 8 427 9 293.8
Australia 8 637.7 7 583.6 6 564.8 6 555.3 6 456.2
Spain 9 547.1 9 464.8 Out 10 374.3 10 266.8
Netherlands 10 423.1 Out 10 385 Out 8 340.6
Russia Out 10 405 9 418.8 9 395.2 Out

2000–2004

List of the world's top-ten music markets during the first half of the 2000s
Country 2000[21] 2001[22] 2002[23] 2003[24] 2004[25]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
United States 1 14,042.0 1 13,411 1 12,325.7 1 11,847.9 1 12,153.4
Japan 2 6,496.9 2 5,253 2 4,593.3 2 4,909.7 2 5,167.8
United Kingdom 3 2,828.7 3 2,808 3 2,859.4 3 3,215.7 3 3,508.7
Germany 4 2,420.6 4 2,128 5 1,988.0 5 2,022.1 4 2,149
France 5 1,694.7 5 1,828 4 1,989.7 4 2,114.7 5 1,979.3
Canada 6 819.3 6 659 6 587.9 6 676 7 693.8
Brazil 7 724.7 Out Out Out Out
Mexico 8 665.9 8 565 10 445.5 Out Out
Spain 9 562.9 7 613 8 542.3 9 595.9 9 572.8
Australia 10 561.3 10 522 9 499.9 7 673.8 6 716.7
Italy Out 9 524 7 554.7 8 644.6 8 652.5
Netherlands Out Out Out 10 498.8 10 507.7

1995–1999

This period saw an all-time peak of Brazil's music industry, reaching retail sales of $1.4 billion in 1996 (equivalent to $2.81 billion in 2024). In 1998, the UK surpassed Germany for the first time as the world's third largest music market.

List of the world's top-ten music markets during the second half of the 1990s
Country 1995[26] 1996[27] 1997[28] 1998[29] 1999[30][31]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
United States 1 12,100 1 12,300 1 11,906.0 1 13,193.4 1 n/a
Japan 2 7,500 2 6,800 2 6,261.7 2 6,521.0 2 n/a
Germany 3 3,200 3 3,200 3 2,836.8 4 2,832.5 4 n/a
United Kingdom 4 2,500 4 2,700 4 2,729.7 3 2,855.6 3 n/a
France 5 2,300 5 2,300 5 2,199.5 5 2,134.8 5 n/a
Brazil Unavailable 6 1,400 6 1,199.1 6 1,055.7 7 n/a
Canada 7 912 7 977.5 7 969.3 6 n/a
Australia 8 815 8 739.1 9 606.7 8 n/a
Netherlands n/a 716.5 9 660 9 600.1 Out Out
Italy n/a 582.7 10 637 Out 10 597.7 Out
Spain n/a 557.3 Out 10 599.9 8 680.8 9 n/a
Mexico Unavailable Out Out Out 10 n/a

1990–1994

List of the world's top-ten music markets during the first half of the 1990s
Country 1990[32] 1991 1992[33] 1993[34] 1994[35]
Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million) 		Rank Value
($ million)
United States 1 7,541.1 Unavailable 1 8,866.6 1 9,833.1 1 11,836.9
Japan 2 2,981.8 2 4,328.5 2 5,082.4 2 5,933.4
Germany 3 2,273.9 3 2,636.9 3 2,690.7 3 2,876.5
United Kingdom 4 2,117.5 4 1,998.2 4 1,976.0 4 2,366.4
France 5 1,665.8 5 1,935.4 5 1,848.6 5 1,923.4
Canada Unavailable 6 861.7 6 896.8 6 975.0
Italy 7 653.8 Out Out
Netherlands 8 647.4 7 618.8 9 629.4
Spain 9 586.7 10 493.7 Out
Australia 10 492.4 9 545.6 10 598.4
Mexico Out 8 572.8 8 673.1
Brazil Out Out 7 782.5

Statistics

Major music markets in history
List of countries by top 10 appearances (1990–2024)
Country Geographical
region 		Top 10 appearances
(number of years) 		Latest year
in the top 10 		Highest
rank
United States North America 34 2024 1
Japan Asia 34 2024 1
United Kingdom Europe 34 2024 3
Germany Europe 34 2024 3
France Europe 34 2024 4
Canada North America 32 2024 6
Australia Oceania 31 2023 6
Italy Europe 20 2021 7
Brazil South America 18 2024 6
Netherlands Europe 15 2020 7
Spain Europe 14 2009 7
South Korea Asia 12 2024 6
China Asia 8 2024 5
Mexico North America 7 2024 8
Russia Europe / Asia 3 2008 9

See also

Record production portal

References

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