South Africa records highest growth as African music industry tops revenue growth for 2023 – 3news

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In Sub-Saharan Africa, the music industry has grown at an unprecedented rate, surpassing global averages, according to the most recent data from the International Federation of the Phonographic Industry (IFPI).

With a staggering 24.7 percent increase in revenues, Sub-Saharan Africa became the only region to exceed 20 percent growth rate. The notable growth was mainly driven by a surge in paid streaming revenues, which increased by 24.5 percent.

The IFPI’s “Global Music Report 2024” said South Africa remained the largest market in…