Global music revenues rise again in 2025, driven by streaming and shifting industry priorities
Global recorded music revenues reached $31.7 billion in 2025, marking a 6.4% year-on-year increase and extending the industry’s growth streak to eleven consecutive years, according to the latest Global Music Report released on 18 March 2026.
The figures point to continued expansion, with paid streaming remaining the dominant force. Subscription services grew by 8.8% and now account for over half of global revenues (52.4%), supported by an estimated 837 million paid users worldwide. Overall, streaming revenues surpassed $22 billion, representing nearly 70% of total income.
Alongside digital growth, physical formats showed renewed momentum, rising 8.0%, with vinyl continuing a long-running resurgence. Meanwhile, performance rights revenues increased modestly to $2.9 billion, continuing a steady upward trend.
Regional growth across all markets
All global regions reported revenue increases in 2025, though the pace varied significantly.
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Latin America recorded the fastest growth at 17.1%, with streaming accounting for the vast majority of revenues.
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Asia followed with 10.9% growth, supported by strong gains in markets such as China and Japan.
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Europe grew 5.6%, maintaining its position as the second-largest regional market.
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USA and Canada, the largest region overall, saw more moderate growth at 3.5%.
Other regions, including Sub-Saharan Africa and MENA, also posted double-digit increases, albeit from smaller revenue bases.
Industry focus: AI and fraud
The report highlights two structural issues likely to shape the near future of the music business: artificial intelligenceand streaming fraud.
On AI, record companies are increasingly involved in developing licensing frameworks intended to integrate generative technologies into the existing rights system. These efforts are framed as attempts to balance new revenue streams with copyright protection, though debates over ownership, consent, and compensation remain unresolved.
At the same time, streaming fraud continues to be flagged as a growing concern. The practice involves artificially inflating play counts using automated or manipulated activity, diverting revenue away from legitimate rights holders. The report calls for coordinated action across platforms, distributors, and rights organisations to detect and limit such activity.
A market still expanding, but unevenly
While the overall trajectory remains upward, the data suggests a market increasingly concentrated around streaming platforms, with regional disparities in growth and ongoing tensions around technology and revenue distribution.
The industry enters its next phase with strong headline figures, but also with unresolved questions about how value is created, measured, and shared in a digital-first ecosystem.
Source: IFPI
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