Today’s episode is about America, the strongest market for recorded music revenue that continues to get stronger. Despite the rise of global music that is no longer reliant on Western gatekeepers, U.S. artists drive a higher share of revenues than ever. How does this make sense? We break it all down with our friend of the pod, Will Page.
You can listen to the full episode here, or read below for a highlight on globalization. Let’s dive in.
“You want it one way… but it’s the other way.” Marlo Stanfield from The Wire.
I think about this quote whenever there’s a trend I expected to go one way, but it didn’t pan out.
I thought the creator economy was going to shift power away from institutions in favor of individuals. Many talented individuals did gain power, but institutions gained power in new ways.
I also expected that streaming's global impact would lead to the rise of global music at the expense of the U.S. and Western World. Don't get me wrong, Latin hip-hop, Afrobeats, and K-pop have reached new heights thanks to streaming. But success in streaming is not zero-sum. Other regions grew, but no nation has gained more collectively in the streaming era than the U.S.
Here’s a chart from our guest, Will Page, that illustrates the point:

In the world of fragmentation, the U.S. global revenue has increased more than ever. American artists are responsible for 38% of a pie that has grown 80% since 2011. Even in developed countries like Canada, their artists generate more revenue from streams in the U.S. than from streams in Canada.
Plus, a lot of those non-U.S. artists, like Drake, The Weeknd, and Rihanna, still share a large portion of their revenue with U.S.-based companies. The amount of their money that flows back to their countries of origin may be even smaller.
It’s a timely topic to dig into given the looming trade wars in our global economy. President Trump floated the idea of a reciprocal movie tariff, which immediately sent my mind to music. There are plenty of similarities across both industries, but music is unique in a number of ways.
You should listen to our full episode. We discussed at length:
- Reasons why the U.S. share of global recorded music revenue continues to grow
- How does this trend line up with glocalization across music and media
- Which genres of U.S. music are the biggest “exports”
- What we predict for 2030
Listen here: Spotify | Apple Podcasts | Overcast
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