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Canada Ranked 8th Largest Global Music Market In New IFPI Report

Drake and The Weeknd were also ranked as the No. 4 and No. 5 biggest global artists in 2023, behind Taylor Swift, Seventeen and Stray Kids.

Canada’s recorded music revenues are strong, according to a new report from IFPI.

The IFPI's 2024 State of the Industry report takes a deep dive into the state of recorded music around the world, and ranks Canada eighth in terms of global music markets in 2023, maintaining the country's spot in the top ten. Canada's music market grew by 12.19% last year, reaching US$659.6 million in revenues. That growth outpaced both the U.S. market, which grew by 7.2%, and global growth of 10.2% — the second highest recorded global growth rate, according to the report.

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