South Korea, the world's 12th largest music market, reported an 11.7% increase in trade value; India, in 14th, was up 16.5%, while Mexico reported a 0.9% upswing. These were the only top 20 countries to record growth in trade value. Spain reported a 21.0% drop in trade value - the biggest drop of the top 20 markets.

South Korea has long been thought of as a key market for the music industry, as it is one of the few countries ...