The global income of recorded music has grown for the tenth consecutive year, according to the IFPIorganization that represents the world record industry, of which promusicae is part representing Spain.
The figures published in the World Music Report ( … GMR) 2025 of the IFPI, presented in a digital meeting held last Wednesday, reveal that total commercial income reached 29.6 billion dollars in 2024, a 4.8%rise.
It is a very competitive market where long -term investment made by record companies in artists’ careers, together with development and licenses, continue to boost world market growth so that all regions have experienced an increase in income in 2024.
Subscription streaming was the main promoter of growth, with a 9.5%rise, while subscription users grew by 10.6%, compared to 2023, reaching 752 million worldwide.
Victoria Oakley, IFPI CEOhe comments on the publication of the Global Music Report: «The essential role that music plays in many areas of our life is revealed in the continued growth of the world industry. And what is exciting is that there is still great potential for future advances, through innovation, emerging technologies and investment in both artists and in evolving areas within the growing ecosystem of music in the world ».
These positive advances “do not happen by chance,” says Oakley, but “are the reflection of a brilliant creativity, vision and a great effort of the artists and composers of the entire planet, also driven by the work, investment and passion of record companies and their teams. In the case of record stamps, income return allows them to be patients and persevering long -term investors in artists, innovation and culture ».
One of the key issues that have been analyzed in this report is the role of AI in music. “Record companies have taken advantage of their potential to improve the creativity of artists and develop new and exciting experiences for fans,” says Oakley. “However, it is very evident that generative AI systems developers who” ingest “rights protected by rights to train their models Without authorization from rights holders are a very real threat and present for human artistic creativity. We are asking politicians to protect music and art. We must take advantage of the AI potential to support and amplify human creativity, not to replace it ».
By formats
Streaming revenues exceeded 20,000 million dollars (20.4 billion), 69% of the total revenues of recorded music. To put it in context, 20,000 million dollars are more than the total income of the record industry every year between 2003 and 2020. Subscription streaming income grew 9.5% in 2024while advertising streaming had a more modest increase of 1.2%.
Physical formats had a more difficult year with income that decreased by 3.1%although this is because the spectacular performance of the year 2023 has not been maintained, when sales shot 14.5%. The performance of the vinyl continued to grow in 2024, 4.6% more in the eighteenth year consecutive year.
Meanwhile, the performance of public execution rights reached 2.9 billion dollars in 2024, with 5.9% more income, increasing for the fourth consecutive year.
By regions
Progression worldwide has been positive, since the work and investments of record companies have contributed to all regions to have seen their income grow in 2024. In 3 of the 7 areas two -digit profits have been recorded: Middle East and North Africa, Sub -Saharan Africa and Latin America. The Middle East region and North Africa was the one with the fastest growth, with 22.8%.
– United States and Canada: +2.1%
With the highest revenue of recorded music (40.3%), in 2024 there was a 2.1% rise in the US and Canada. In the United States, the country with the largest individual recorded music, a 2.2%growth was recorded. Canada, the eighth largest market, experienced a 1.5% growth in its income, although this data comes from comparing with the figures of 2023, which included a unique payment of income of public execution rights.
– Europe: +8.3%
Europe, which after the growth of its income by 8.3% represents more than a quarter of the world total (29.5%), remained in 2024 the second largest region in the world in recorded music performance. The three main markets on the continent had higher income in 2024: United Kingdom (+4.9%), Germany (+4.1%) and France (+7.5%). It is the region that contributed the most income growth. Spain grew above the European average (9.42%) according to the annual figures 2024 presented last month.
– Asia: +1.3%
Asia, the third largest region in the world, had a 1.3% higher performance in 2024. This occurred in the context of a strong performance in 2023, both in physical and digital formats, and the income made a jump of 14.4%. However, Asia maintained its position as the highest physical product market and accounted for 21.1% of world income in this format. For this reason, the 4.9% decrease in its physical market has impacted the general growth rate of this area. The second largest world market, Japan, has remained (-0.2%) [debido al descenso en producto físico]while China held the fifth position of the world, with income that grew 9.6%.
– Latin America: +22.5%
The income of music recorded in Latin America experienced a strong rise, of 22.5%in 2024, again exceeding the world growth rate and marking its fifteenth consecutive year of promotion. Streaming was the key factor again, counting 87.8% of the recorded music revenues in the region. Brazil grew by 21.7%, becoming the fastest growing market on the list of the ten main markets, and Mexico increased its performance by 15.6%, entering the ranking of the ten largest recorded music markets in the world.
– Oceania: +6.4%
The income of music recorded in this region reached 629 million dollars, with a growth of 6.4% in 2024. Australia increased its income by 6.1%, although it was displaced by Mexico in the Top 10 of the main world markets; New Zealand had a 7.8% higher yield.
– Middle East and North Africa: +22.8%
Middle East and North Africa was the fastest growing area, registering in 2024 an increase in income of 22.8%. Streaming remained dominant in the region, counting 99.5% of total income.
– Sub -Saharan Africa: +22.6%
Sub -Saharan Africa saw its musical income grow by 22.6%, exceeding 100 million dollars for the first time (110 million). South Africa remained the largest market in the region, counting 75% of the total, after growing 14.4%.
The IFPI is the voice of the world record industry, representative of its more than 8,000 member record companies of the entire planet. Our work is to promote the value of recorded music, promote the rights of record producers and expand the commercial uses of recorded music around the world. Promusicae is the Spanish National Group of the IFPI, representing the interests of Spanish record companies.
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