The 2023 Global Artist Chart released by the International Federation of the Phonographic Industry (IFPI) / Courtesy of IFPI

Four K-pop groups earned spots on the Top 10 list of the International Federation of Phonographic Industry's (IFPI) Global Artist Chart 2023.

The chart released on Wednesday placed Seventeen in second place while Taylor Swift took the top spot. Stray Kids came in third place, Tomorrow X Together in seventh and NewJeans in eighth, reflecting K-pop's elevated status in the global music scene.

With over 8,000 global record labels as members, the IFPI annually releases a comprehensive report summarizing music industry trends. The Global Artist Chart ranks artists based on physical album sales, digital song downloads and audio-video streaming figures.

Seventeen's rise in the rankings has been steady since its debut on the list in 2021, initially placing ninth and sixth the year after.

Last year, the band reached milestones in its career by surpassing 16 million cumulative album sales, fueled by the success of its tenth mini-album "FML" and eleventh mini-album "Seventeenth Heaven."

Likewise, Stray Kids' second appearance on the list follows its debut in 2022 when it reached seventh place.

NewJeans and TXT made their IFPI chart debut this year. Notably, NewJeans ranked highest among K-pop girl groups, second only to Taylor Swift among all women artists.

The Global Artist Chart 2023 also features Drake in fourth place, The Weeknd in fifth, American singer-songwriter Morgan Wallen in sixth, Puerto Rican rapper Bad Bunny in ninth and Lana Del Rey in 10th.

Additionally, girl group IVE and boy band NCT Dream also received recognition for elevating the status of K-pop globally, securing the twelfth and fifteenth positions, respectively, on the Top 20 IFPI Global Recording Artist Chart 2023.