PARIS, France - The biggest artist in the world was -- no surprise -- Taylor Swift, according to the annual report by International Federation of the Phonographic Industry, which represents global record companies.Swift was followed closely by two Korean bands, Seventeen and Stray Kids, reflecting the increasing spread of K-Pop.
The biggest music markets remained the United States, Japan and Britain.TikTok effectThe industry has several key concerns, however, particularly as young people spend increasing time on TikTok and games."The worst ad-supported, short-clip video platforms have no chance of leading to paid subscriptions and are becoming the primary consumption platforms for many young consumers," said Dennis Kooker, of Sony Music, at a press conference to launch IFPI's report.