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
| Country | 2020 | 2021 | 2022 | 2023 | 2024 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 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
| Country | 2015 | 2016 | 2017 | 2018 | 2019 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 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
| Country | 2010 | 2011 | 2012 | 2013 | 2014 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
| Country | 2005 | 2006 | 2007 | 2008 | 2009 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 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
| Country | 2000 | 2001 | 2002 | 2003 | 2004 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 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 $2.81 billion in 2024). In 1998, the UK surpassed Germany for the first time as the world's third largest music market.
| Country | 1995 | 1996 | 1997 | 1998 | 1999 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Rank | Value ($ 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
| Country | 1990 | 1991 | 1992 | 1993 | 1994 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 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
| 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 sales
Record production portal
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