The music industry had its biggest year in over two decades in 2021

Global music revenues grew by 18.5 per cent, the highest since the 1990s.

Artists like BTS, Taylor Swift and Adele bolstered the numbers, with last year seeing 523 million paid subscribers, a nearly 100 million increase from the previous year.

Streaming makes up 65 per cent of total revenues with CDs, vinyl and cassettes contributing 19 per cent and downloads only four per cent.

The remainder of the revenue comes from royalty payments, music licenses, TV shows and commercials.

This marks the industry’s seventh consecutive year of growth.