International recorded music revenues have grown for the tenth consecutive yr, up 4.8% to US$29.6 billion in 2024, in keeping with the IFPI’s International Music Report 2025 . The newly launched report offers essentially the most complete evaluate of the worldwide music market and analyzes points and developments throughout the trade.
International income development was largely pushed by paid subscription streaming, with a rise of 9.5%, whereas ad-supported streaming grew by 1.2%. Globally, the variety of subscription account customers grew 10.6% year-over-year to 752 million customers.
All informed, streaming revenues exceeded US$20 billion (US $20.4 billion) for the primary time ever, and represented 69% of whole recorded music revenues. To place that determine in perspective, US$20 billion is greater than the revenues of your entire recorded music trade for annually between 2003 and 2020.
Each area of the world skilled income development in 2024, with three of the world’s seven areas posting double-digit beneficial properties: Center East & North Africa (+22.8%), Sub-Saharan Africa (+22.6%) and Latin America (+22.5%).
The Canadian market – which stays the eighth largest on the planet – noticed income develop to US$660.3 million. Whereas the market elevated by simply 1.53% yr over yr, Canada’s 2024 revenues are compared to a 2023 determine which included a big one-off cost in efficiency rights revenues.
Like different international markets, development in Canada was largely pushed by streaming, which elevated 4.2% to US$520.1 million. Of that, subscription streaming accounts for almost all of these revenues with US$422.7 million, up 6.2% year-over-year.
“This report clearly demonstrates that Canada should proceed to foster a wholesome music atmosphere for artists, document labels and their companions. Canada’s main labels make investments closely find new expertise, breaking Canadian and Indigenous artists at dwelling and world wide, and growing new applied sciences to assist them obtain their industrial and inventive objectives. A strong Canadian market is what permits that re-investment and the success of future generations of expertise,” says Patrick Rogers, CEO of Music Canada.
Commenting on the discharge of the International Music Report, Victoria Oakley, CEO, IFPI, stated: “One of many key points we’ve checked out on this report is the function of AI in music. Report corporations have embraced its potential to boost artist creativity and develop new and thrilling fan experiences. Nevertheless, it is extremely clear that the builders of generative AI programs ‘ingesting’ copyright-protected music to coach their fashions with out authorisation from the rightsholders poses a really actual and current menace to human artistry.
We’re asking policymakers to guard music and artistry. We should harness the potential of AI to assist and amplify human creativity, to not substitute it.”
The free International Music Report 2025 – State of the Trade report is now accessible right here.
ENDS
Be aware to Editors:
About Music Canada:
Music Canada is the commerce affiliation representing Canada’s main document labels: Sony Music Leisure Canada, Common Music Canada and Warner Music Canada. Like its members, Music Canada is a companion to the trade, working with artists, unbiased labels, publishers, platforms, associations and others, in advancing forward-looking insurance policies to make sure a dynamic and profitable Canadian music ecosystem which returns worth to music creators.
For additional info: Regan Reid, Music Canada, rreid@musiccanada.com, (416) 462-1485
About IFPI
IFPI is the voice of the recording trade worldwide, representing greater than 8,000 document firm members throughout the globe. We work to advertise the worth of recorded music, marketing campaign for the rights of document producers and broaden the industrial makes use of of recorded music world wide.
For additional info please contact:press@ifpi.org| +44 (0)20 7878 7979
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