Global Music Sales Revenue Grows by 4.8% in 2024

Global revenue from physical music sales and the streaming business has grown for the tenth consecutive year. According to the Global Music Report 2025, released today, total revenue in the global music market reached $29.6 billion in 2024, reflecting a 4.8% increase compared to the previous year. The report is published by the International Federation of the Phonographic Industry (IFPI), the international umbrella organization of the German Music Industry Association (BVMI).

In an increasingly competitive market, long-term investments by music companies in artists’ careers, as well as the development and licensing of attractive music consumption options for fans, continue to drive global market growth. As a result, all regions covered in the report recorded revenue increases over the past year. Premium streaming remained the strongest growth driver, with a 9.5% increase in revenue, while the number of subscription-based streaming users grew by 10.6%, reaching 752 million worldwide.

Dr. Florian Drücke, Chairman of the BVMI, stated: “It is truly encouraging to see that music remains an essential part of people’s lives! With an 8.3% increase, Europe has significantly outpaced global market growth, and Germany has successfully maintained its position as the fourth-largest music market in the world. Sustaining this positive trend requires a responsible approach to generative AI. It is crucial to ensure that AI systems are not trained on copyrighted music without the consent of rights holders, as this poses a real threat to artists and their partners. The report also sends an important message to Germany’s future government, which is currently in coalition negotiations: legal certainty is essential for the digital licensing business, extending beyond the music industry. Only by safeguarding these principles can we harness the potential of AI in support of human creativity and further strengthen a thriving industry.”