Monday, 3 June 2013

UK pop bubble bursts, but superstars still dominate global music market

Beyonce - one of the "Team USA" superstars!
Only six countries in the World are net 'exporters' of music - with the USA dominating a list of 23 international superstars which includes Madonna, Britney Spears, Beyonce, Rihanna, Black Eyed Peas, Jennifer Lopez, Eminen and Usher - but its Sweden that is the most successful for its size when comparing the size of the country's global music market against global GDP. Sweden comes in at 59% above its share of GDP whist the UK's share is 52% above global GDP share and the USA 33%. The only other three countries on the list are Finland, New Zealand and Canada although the list of superstars includes Shaikira (Colombia), TATU (Russia), Nelly Furtatdo (Canada), Lars Ketchup (Spain), Kylie Minogue (Australia) and Shaggy (Jamaica). The UK's only two superstar entrants are Dido and Robbie Williams. The data comes from a study by Joel Waldfogel and Fernando Ferreira at the University of Minnesota which also showed that many smaller countries are now starting to consume more domestically produced music when looking at chart data compiled between 2001 and 2007 which featured more than 23,000 artists - but with just 31 featuring in more than 18 national charts globally for more than one year. Post ABBA, Sweden's stars have included Roxanne, Ace of Base, Wannadies and the Cardigans. 

The Report, published in the Economic Journal, credits the growth of the internet and MTV as helping to 'democratise' music and help increase the popularity of home-grown artists. Although, the study does not include digital sales in the past six years, the trend suggests the internet will continue to help artists, such as South Korea's Psy, reach a global audience.

Pop Internationalism: Has Half a Century of World Music Trade Displaced Local Culture?

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