IFPI Reports 4.8% Growth in Global Music Revenue to $29.6 Billion

The IFPI's Global Music Report 2025 reveals that global recorded music revenues have risen for the tenth consecutive year, reaching $29.6 billion in 2024, though the growth rate has slowed to 4.8% from 10.2% in 2023. This growth is primarily driven by a 9.5% increase in paid streaming subscriptions, which now account for 69% of total music sales, while physical sales continue to decline. The report highlights the Middle East & North Africa as the fastest-growing music market, with revenues surging by 22.8%, surpassing other regions like Latin America and Sub-Saharan Africa. However, industry executives are increasingly concerned about generative AI technologies potentially undermining copyright protections, prompting musicians to protest against tech companies seeking to use their work without permission. The report indicates that while the overall market has shown resilience, the push for legislative changes regarding AI and copyright could pose significant risks to future growth. The findings emphasize the need for ongoing investment in artist development and the safeguarding of intellectual property rights in an evolving digital landscape.