One Direction, the topper on IFPI's 2013 list, came in at No. 2 this year. The UK/Irish band released their latest studio album Four in November, topping the Billboard 200 and becoming the first group to have their first four album debut atop the U.S. album chart.
Third place was claimed by English singer/songwriter Ed Sheeran, whose sophomore studio effort X was Spotify's most-streamed album of the year. The rest of the top 10 includes Coldplay, AC/DC, Michael Jackson, Pink Floyd, Sam Smith, Katy Perry and Beyonce.
The independently verified Global Recording Artist chart includes sales of albums -- across digital, CD and vinyl formats; singles, both downloaded and physical; on-demand audio streams and music videos. Only individual artists are eligible. IFPI notes that if the Frozen soundtrack had been recorded by a single artist, it would have topped the 2014 chart.
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"Congratulations to Taylor Swift," said IFPI chief Frances Moore. "She merits this result as she is a hardworking and talented performer who has an amazing ability to connect with audiences worldwide. This IFPI award reflects the global popularity of recording artists across the diverse ways in which fans choose to listen to music today."
Top 10 Global Recording Artists 2014
1. Taylor Swift
2. One Direction
3. Ed Sheeran
6. Michael Jackson
7. Pink Floyd
8. Sam Smith
9. Katy Perry