A new report on the music industry shows who's dominating the industry.
We're already a few months into 2018 and we've already seen the release of some smash hit albums from artists such as Cardi B and J. Cole. That being said, now is the perfect time to take a look back at 2017, and reflect on the state of the industry as a whole. A new report from The International Federation of the Phonographic Industry (IFPI) details who the biggest successes of last year were, and graphs out the state of the industry as a whole.
Most notable is the global artists chart, listing the best selling artists from 2017, with some hip-hop artists placing very high on the list. Drake lands solidly at the number two best selling artist worldwide, losing only to Ed Sheeran. Kendrick Lamar, Eminem, and The Weeknd also made their way into the top ten, in fourth, fifth, and seventh places, respectively.
Drake's number two spot is a real testament to his star power, and is only further evidenced by the top singles and album charts from last year. Despite being the second best-selling artist in the world last year, Drake doesn't have a single or an album in the top 10 list for last year. Kendrick holds it down on these lists for hip-hop, with "Humble" coming in at number six, and DAMN. placing seventh.
The report also records the state of the music industry which, despite popular belief, is not actually dying. The music industry experienced an 8.1% overall revenue growth, and a 41.1% growth in streaming revenue. If anything is dying, it's physical albums, which had a revenue loss of 5.4%.
You can check out the whole report for yourself here.