The Global Music Report for 2025 is out. Here’s what music looks like around the world.
The IFPI, the global body representing the interests of the recorded music industry, released its annual report on the state of the business yesterday (March 19). Here are some highlights.
- Global music revenues grew by 4.8% in 2024. This means the business is worth US$29.6 billion.
- Most growth came in Latin America (+22.5%), sub-Saharan Africa (22.6%), the Middle East/North Africa (22.8%).
- The least grow came in North American (up by just 2.1% with Canada growing by 1.5%; that figure is low because of how 2023 figures were calculated) and Asia (1.3%)
- Streaming revenues were up by 7.3%.
- 69% of music revenues come from streaming.
- Paid subscriptions grew by 9.5% while ad-supported streaming only went up by 1.2%.
- 752 million people subscribe to some kind of music streaming platform.
- Paid digital downloads (i.e. iTunes) continued to drop, falling 7.7%.
- Physical sales were down overall by 3.1%, dragged by a drop in CD sales and music video revenues. Vinyl, however, was up by 4.6%.
- Ranking countries by size of music market, we have
- The US
- Japan
- UK
- Germany
- China
- France
- South Korea
- Canada
- Brazil
- Mexico
You can download your own copy of the report here.
