Global Music Report 2025: 10 Years of Growth
Global music revenues surged for the tenth consecutive year,reaching $29.6 billion in 2024, a 4.8% increase driven primarily by streaming,according to the Global Music Report 2025. Paid subscription streaming, the primarykeyword, experienced a substantial jump of 9.5%, while the total number of subscription accounts worldwide hit 752 million.Streaming revenues, the secondarykeyword, now constitute 69% of the total, exceeding $20 billion for the first time. Every region globally experienced revenue growth, with triple-digit gains in the Middle East & North Africa, sub-Saharan Africa, and Latin America. in Canada, streaming fueled market gains of 4.2%. News Directory 3 provides deeper insights behind the stats. Discover what’s next in this evolving landscape.
Global Music Revenue Growth Continues, Fueled by Streaming
Worldwide recorded music revenues climbed for the tenth straight year, reaching $29.6 billion in 2024, according to the IFPI‘s Global music Report 2025. the increase of global music revenue was 4.8%.
Paid subscription streaming played a meaningful role in this growth, jumping 9.5%,while ad-supported streaming increased 1.2%. The number of subscription account users worldwide grew 10.6% to 752 million.
Streaming revenues surpassed $20 billion for the first time, accounting for 69% of total recorded music revenues. This figure exceeds the entire recorded music industry’s revenues for each year between 2003 and 2020.
Every region saw revenue growth in 2024, with the Middle East & North africa, Sub-Saharan Africa, and Latin America all posting gains above 22%.
The Canadian market, the eighth largest globally, saw revenue rise to $660.3 million, a 1.53% increase. This growth occurred despite a large one-time payment in performance rights revenues included in the 2023 figures.
Like other global markets, canada’s growth was largely fueled by streaming, which increased 4.2% to $520.1 million.Subscription streaming accounted for the majority of that revenue, reaching $422.7 million, up 6.2% year-over-year.
“This report clearly demonstrates that Canada must continue to foster a healthy music surroundings for artists, record labels and their partners…A robust Canadian market is what enables that re-investment and the success of future generations of talent,” said Patrick Rogers, CEO of Music Canada.
“One of the key issues we’ve looked at in this report is the role of AI in music… We are asking policymakers to protect music and artistry. We must harness the potential of AI to support and amplify human creativity, not to replace it,” said Victoria Oakley, CEO, IFPI.
What’s next
The music industry continues to adapt to technological advancements, with ongoing discussions surrounding AI’s role in music creation and copyright protection.