Global recorded music industry revenue reached $29.6 billion in 2024, marking a 4.8% year-over-year increase. This growth occurred despite slowdowns in major markets, balanced by significant expansions in emerging regions.

Key Revenue Highlights:

• Streaming revenue: $20.4 billion (+7.3% YoY)
• Paid streaming growth: 9.5% YoY
• Ad-supported streaming: 17.7% of total revenue (+1.2% YoY)
• Physical format revenue: $4.8 billion (-3.1% YoY)
• Vinyl revenue growth: 4.6% YoY
• Sync revenue: $650 million (+6.4% YoY)
• Public performance revenue: $2.9 billion (+5.9% YoY)
• Digital downloads: $828.8 million (double-digit decline)

Regional Growth Performance:

• MENA: +22.8%
• Sub-Saharan Africa: +22.6%
• Latin America: +22.5%
• Europe: +8.3%
• Australasia: +6.4%
• USA & Canada: +2.1%
• Asia: +1.3%

Notable Market Changes:

• Mexico became the 10th largest recorded music market, surpassing Australia
• China showed 9.6% growth
• South Korea maintained strong physical sales
• Japan experienced a slight decline but remains the second-largest market globally
• Streaming users reached 752 million worldwide

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