Data on recorded music industry revenue in the United States from 2009 to 2024 shows steady growth from 2015 onwards. The revenue reached over ** billion U.S. dollars in 2024, up from the ***billion reported in the previous year. Music is the revenue driver of the audio market With music being part of everyday life as well as a popular form of entertainment, it has been the most popular audio format and is likely to remain the revenue driver of the industry. Global recorded music revenue alone generated a total of **** billion U.S. dollars in 2024. In the United States, recorded music industry revenue amounted to **** billion U.S. dollars in 2024, which is more than twice as much compared to 2009. Streaming is dominating music consumption Over the years, streaming has become increasingly popular, overtaking other forms of music consumption. Especially physical sales of music have experienced a sharp drop in numbers, only slightly recovering in recent years. Nonetheless, while streaming is by far the most popular way of consumption, the boom it has experienced over the last 10 years or so seems to be slowing down. In 2022, global music streaming revenue only grew by **** percent, which is a significant drop from the growth rate of **** percent in the year before. In 2024, the recorded growth dropped to *******************.

A recent study exploring the global music industry forsaw that revenues from live music events would grow by ******percent in 2025, reaching over ** billion U.S dollars that year. The market estimates are showing promising growth to pre-pandemic levels and revenue figures surpassing ** billion dollars by the end of 2030. Concerts amid COVID-19 The outbreak of the coronavirus (COVID-19) pandemic dealt a heavy blow to the live music sector as concert venues closed, tours were halted, and festivals rescheduled. But while some events were canceled or postponed indefinitely, others were merely moved online to let music lovers enjoy performances by their favorite artists in a socially distant manner. In Europe, for example, the share of festivalgoers who watched a live music stream during coronavirus lockdowns stood at ** percent, with a similar share of survey respondents stating they would happily pay to do so. Live stream concerts have become popular alternatives to in-person shows in recent years, and while some artists uploaded pre-recorded concert films to video streaming platforms, others took the virtual stage in gaming apps Fortnite or Roblox. Most successful live music tours The live music sector awoke from a deep slumber in 2021 as social distancing measures were loosened and travel bans lifted in many parts of the world. Two years later, looking at the top-grossing concert tours that year, Taylor Swift was taking over the concert market, with her tour's earnings reaching over *** billion U.S. dollars. Beyonce's tour ranked second that year, however, the grosses trailed behind at the level of *** billion dollars.

In 2024, the total revenue of the recorded music industry amounted to **** billion U.S. dollars. Global streaming revenues reached **** billion U.S. dollars in the same year. Overall, recorded music increased by nearly **** percent, representing a steady growth rate compared to the previous year. Music streaming – the motor of the industry Data on the revenue generated by the different segments of the music industry worldwide show that music streaming is responsible for by far the biggest share in the industry in recent years. The streaming revenue has been growing year by year since the late 2000s and early 2010s and overtook the revenue from physical sales as of 2017. With two thirds of the global music revenue in 2024 coming from streaming, it was undoubtedly the backbone of the industry. Smaller regional markets are catching up While the global music market rose by around five percent in 2024, this growth rate varied significantly when broken down regionally. Whereas growth in the biggest regional music markets, North America, Asia and Europe, remained in single digits, the music markets in Sub-Saharan Africa, Latin America, and the MENA region grew at a fairly high rate respectively.

The revenue of the Swedish digital music industry steadily grew in the past decade. It amounted to *********** Swedish kronor in 2023. Such a revenue implied a market share of over ** percent of the total recorded music market in the Scandinavian country. Which digital music format does generate the highest revenue? The most profitable digital music sales format in Sweden was by far streaming. In 2019, music streaming services, including subscription, add supported services, as well as music videos, generated a revenue of more than *** billion Swedish kronor. By comparison, the download sales generated a value of only about ** million kronor that year. How has the consumption of online music developed in recent years? Correspondingly, the consumption of online music in Sweden recently increased. In 2019, more than half of the population streamed or downloaded music daily. This was an increase of ** percent compared to the previous year. Another survey from the beginning of 2020 found that nearly a fifth of respondents stated to use digital music platforms more often than in 2019.

According to Cognitive Market Research, The Global Live Music market will be USD 58.9 billion in 2023 and grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The demand for Live Music is rising due to the rising use of mobile apps, the expanding accessibility of expensive event tickets, and the growing appeal of live events. Demand for EDM Live Music remains higher in the Live Music market. The Tickets held the highest Live Music market revenue share in 2023. Europe will continue to lead, whereas the North America Live Music market will experience the strongest growth until 2030. Market Dynamics of

Live Music Market

Key Drivers for

Live Music Market

Increased Popularity of Live Events to Provide Viable Market Output

The live music industry is undoubtedly growing due to the growing popularity of live events. Due to the immersive and one-of-a-kind experience that live music concerts offer, more than recorded music is required to satisfy consumers' entertainment needs. More fans are drawn to special events, private gigs, stadium concerts, and music festivals, both domestically and internationally. Live music experiences are in high demand due to the excitement of seeing bands and artists play in real time, typically combined with cutting-edge production. The live music industry is positioned for ongoing expansion, providing a lively and vital element of the global entertainment landscape as artists continue to tour, venues expand, and audiences seek unforgettable experiences.

Growing Interest of Young to Propel Market Growth

DJ gear and software are also widely used by musicians and music producers to mix audio tracks. They mix two or more songs to produce remix tracks using DJ software like Bitwig Studio 3, Serato DJ Pro, Serato DJ Lite, Live 10, and REASON. Because more and more musicians and music lovers want to make their own remix songs, DJ software has become increasingly popular. As live events, concerts, and EDM became increasingly popular, people started combining songs to create remix tracks. Hotels and other venues hold live music events due to the increasing popularity of DJs, allowing visitors to see performances by their favorite DJs and musicians. The live music market will develop in the upcoming years due to vendors implementing client attraction methods.

Key Restraint for

Live Music Market

Privacy And Security Concerns Over Online Ticket Booking Platforms to Hinder Market Growth

Phishing has become a more serious menace as internet platforms and applications have grown. Service providers track cookies to gather consumer preference data and target the appropriate audience with tailored solutions. They communicate and engage with their customers using this data. They can access data mining, customer behavior, and customer profile information. A careless use of this information may violate the privacy of customers. Because providing location-based service to clients necessitates the collection of geo-based data, privacy concerns also extend to location-based service. The IT sector needs to supply the infrastructure necessary to enable the secure and dependable seamless location, transfer, and integration of vital information as it develops an electronic economy that is open and competitive. Because of risks like phishing, consumers hesitate to use their debit or credit cards for online purchases. Online merchants invest significantly in website security and routinely update their security modules. This will contribute to the protection of clients' financial data.

Key Trend for

Live Music Market

The live music scene in 2025 is being transformed by a confluence of experiential demand, technological advancements, and sustainability. Virtual and hybrid concert formats are here to stay, providing immersive augmented reality features and a global audience. From VIP packages and interactive event apps to niche festivals and intimate venue environments, attendees are increasingly looking for unique, curated experiences. With biodegradable materials, carbon-neutral locations, and environmentally friendly tours becoming the norm, sustainability is now an essential component. With dynamic, data-driven models and secondary market activity fueling affordability discussions, ticket pricing dynamics are also changing. Live streaming sites and music tourism are driving worldwide growth, while AI is used behind the...

Key Music Streaming App StatisticsTop Music Streaming AppsMusic Streaming RevenueMusic Revenue by FormatMusic Streaming MarketshareMusic Streaming Subscribers by AppMusic Streaming Users by AppMusic...

US Recorded Music Revenue by Format

Recorded music revenue in the US by format and week 10

By Throwback Thursday [source]

About this dataset

This dataset offers a comprehensive analysis of the recorded music revenue in the United States, specifically focusing on the 10th week of the year. The data is meticulously categorized based on different formats, shedding light on the diverse ways in which music is consumed and purchased by individuals. The dataset includes key columns that provide relevant information, such as Format, Year, Units, Revenue, and Revenue (Inflation Adjusted). These columns offer valuable insights into the specific format of music being consumed or purchased, the respective year in which this data was recorded, the number of units of music sold within each format category, and both the total revenue generated from sales and its corresponding inflation-adjustment amount. By analyzing this dataset with its extensive range of information about recorded music revenue in various formats during a specific week within a given year in the United States market context can help derive meaningful patterns and trends for industry professionals to make informed decisions regarding marketing strategies or investments

How to use the dataset

Introduction:

• Familiarize Yourself with Columns:

  • Format: This column categorizes how music is consumed or purchased.
  • Year: This column represents the year when each data point was recorded.
  • Units: The number of units of music sold within a particular format during a given week.
  • Revenue: The total revenue generated from sales of music within a specific format during a given week.
  • Revenue (Inflation Adjusted): The total revenue generated from sales of music adjusted for inflation within a specific format during a given week.

• Understanding Categorical Formats: In this dataset, formats refer to different ways in which music is consumed or purchased. Examples include physical formats like CDs and vinyl records, as well as digital formats such as downloads and streaming services.

• Analyzing Trends over Time: By exploring data across multiple years, you can identify trends and patterns related to how formats have evolved over time. Use statistical techniques or visualization tools like line graphs or bar charts to gain insights into any fluctuations or consistent growth.

• Comparing Units Sold vs Revenue Generated: Analyze both units sold and revenue generated columns simultaneously to understand if there are any significant differences between different formats' popularity versus their financial performance.

• Examining Adjusted Revenue for Inflation Effects: Comparison between Revenue and Revenue (Inflation Adjusted) can provide insights into whether changes in revenue are due solely to changes in purchasing power caused by inflation or influenced by other factors affecting format popularity.

• Identifying Format Preferences: Explore how units and revenue differ across various formats to determine whether consumer preferences are shifting towards digital formats or experiencing a resurgence in physical formats like vinyl.

• Comparing Revenue Performance Between Formats: Use statistical analysis or data visualization techniques to compare revenue performance between different formats. Identify which format generates the highest revenue and whether there have been any changes in dominance over time.

• Supplementary Research Opportunities: Combine this dataset with external sources on music industry trends, technological advancements, or major events like album releases to gain a deeper understanding of the factors influencing recorded music sales

Research Ideas

• Trend analysis: This dataset can be used to analyze the trends in recorded music revenue by format over the years. By examining the revenue and units sold for each format, one can identify which formats are growing in popularity and which ones are declining.
• Comparison of revenue vs inflation-adjusted revenue: The dataset includes both total revenue and inflation-adjusted revenue for each format. This allows for a comparison of the actual revenue generated with the potential impact of inflation on that revenue. It can provide insights into whether the increase or decrease in revenue is solely due to changes in market demand or if it is influenced by changes in purchasing power.
• Format preference analysis: By analyzing the units sold for each format, one can identify which formats are preferred by consumers during a particular week. This information can be useful for music industry professionals and marketers to under...

The United States Live Music Market Report is Segmented by Application (Concerts, Festivals, Theater, Corporate Events, Weddings), Revenue Stream (Tickets, Sponsorship, Merchandising), Age Group (Children, Teenagers, Adults, Seniors), Venue Size (Small, Medium, Large), and Geography (Northeast, Midwest, South, West). The Market Forecasts are Provided in Terms of Value (USD).

In 2023, the sales revenue of the music industry in South Korea totaled around **** trillion South Korean won. This represents an increase of about **** percent since the previous year. The music industry accounted for *** percent of the total sales revenue of the domestic content industry that year. The explosion of album sales in South Korea With a massive increase in album sales in the last decade, selling music albums has become one of the main income sources for the music industry. In 2023, sales drastically rose to reach over *** million, accelerated by the K-pop fandom tendency to buy physical albums in order to achieve benefits such as artist photo cards. As a result of this incentive, most physical album sales are seized by K-pop groups instead of individual artists. In the previous decade, the top-selling music albums were all dominated by K-pop groups, with BTS having won ***** times in a row. Streaming services as a market driver Besides the explosion of album sales, online music distribution is one of the key driving forces of the successful music industry in the country. Most South Koreans prefer to access music via streaming, with domestic streaming music services still playing a major role in the industry. Internationally, YouTube is considered a necessary platform for Korean music artists for expanding their fandom as roughly ** percent of respondents in a global survey chose the platform as the most preferred online music service for K-pop content. It has also become increasingly popular domestically.

Game Music Market Outlook

As of 2023, the global game music market size is projected to be valued at USD 1.5 billion, with expectations to reach USD 3.2 billion by 2032. This represents a compound annual growth rate (CAGR) of 8.1% during the forecast period. Several growth factors contribute to this impressive trajectory, including the proliferation of gaming platforms, the increasing complexity and cinematic quality of games, and the growing emphasis on immersive player experiences.

The rise of the gaming industry as a dominant entertainment medium is one of the principal growth factors driving the game music market. Over the past decade, gaming has evolved from a niche hobby to a mainstream activity, boasting over 2.7 billion gamers worldwide. This surge in the gaming population has spurred demand for high-quality game music that enhances the overall gaming experience. Moreover, technological advancements in audio design and production tools have enabled composers and sound designers to create more sophisticated and immersive soundscapes, further fueling the market's growth.

Another significant growth driver is the increasing sophistication of games themselves. Modern video games often feature complex narratives, rich character development, and expansive virtual worlds, reminiscent of blockbuster films. As a result, game developers are increasingly investing in original soundtracks and licensed music to provide players with a more immersive and emotionally engaging experience. High-profile collaborations between game developers and renowned musicians or orchestras are becoming more common, highlighting the crucial role of music in contemporary gaming.

The growing acceptance and integration of virtual reality (VR) and augmented reality (AR) technology in gaming also play a pivotal role in boosting the game music market. VR and AR games require highly immersive audio to create a convincing virtual environment, driving the demand for custom music and sound effects. As VR and AR gaming technologies continue to mature and become more accessible, the need for specialized game music is expected to rise proportionately, contributing to market growth.

Regionally, North America and Asia Pacific are key contributors to the game music market's expansion. North America, home to some of the world's largest gaming companies and a massive gamer population, leads in market share. The Asia Pacific region, particularly countries like China, Japan, and South Korea, is witnessing rapid growth due to a robust gaming culture and increasing investments in gaming infrastructure. Europe also shows significant potential, with a growing number of game development studios and a strong consumer base.

Type Analysis

The game music market can be segmented by type into three primary categories: Original Soundtracks, Licensed Music, and Custom Music. Original soundtracks (OSTs) are compositions created specifically for a game, often playing a crucial role in defining the game's identity and atmosphere. The demand for OSTs is driven by the need for unique and memorable audio experiences that can evoke specific emotions and complement the game's narrative. With games becoming more story-driven and cinematic, the role of original soundtracks has become increasingly vital, making this segment a significant contributor to market growth.

Licensed music, which involves the use of pre-existing songs and compositions, is another important segment. This type of music is often used in games to appeal to players' existing musical tastes or to evoke a particular era or setting. The increasing trend of integrating popular music tracks into games, especially in genres like sports and racing games, has led to a steady rise in the demand for licensed music. This segment also benefits from collaborations between game developers and music artists, where the latter's fan base can be leveraged to attract more players to the game.

Custom music, tailored specifically for particular gaming moments or experiences, represents a growing segment in the game music market. This type of music is particularly important for VR and AR games, where immersive audio can significantly enhance the player's sense of presence in the virtual environment. Custom music compositions are gaining traction as they allow for a high degree of personalization and adaptability, making them ideal for dynamic game scenarios and interactive storytelling.

Each of these types—original soundtracks, licensed music, and custom musi

Live Music Market Outlook

According to our latest research, the global live music market size reached USD 34.2 billion in 2024, reflecting strong post-pandemic recovery and surging consumer demand. The market is projected to expand at a robust CAGR of 7.8% from 2025 to 2033, reaching a forecasted value of USD 67.2 billion by 2033. This growth is driven primarily by the resurgence of large-scale events, technological advancements in event production, and increasing disposable incomes across emerging economies. As per our latest research, the live music industry is poised for transformative growth over the next decade, fueled by evolving consumer preferences and rapid digital integration.

One of the primary growth factors propelling the live music market is the increasing demand for immersive and unique entertainment experiences. After years of restrictions due to the global pandemic, consumers are showing a renewed enthusiasm for attending live events, concerts, and festivals. This pent-up demand is coupled with an increased willingness to spend on premium experiences, including VIP access, backstage passes, and exclusive merchandise. Event organizers are capitalizing on this trend by offering multi-sensory events that combine live performances with advanced lighting, sound technologies, and interactive elements, creating memorable experiences that cannot be replicated digitally. As a result, ticket sales are surging, and the market is witnessing a significant uptick in both attendance and average revenue per event.

Technological advancements have emerged as a critical enabler for the live music market’s expansion. The integration of augmented reality (AR), virtual reality (VR), and live streaming platforms has broadened the reach of live music events beyond physical venues. Artists and event organizers are leveraging these technologies to engage global audiences, enhance fan interaction, and generate additional revenue streams through virtual ticketing and exclusive online content. Furthermore, advancements in event management software, digital ticketing, and real-time analytics are streamlining operations, improving security, and optimizing audience engagement. These innovations are not only enhancing the attendee experience but are also contributing to higher profitability and scalability for event organizers and artists alike.

Another significant growth factor is the diversification of revenue streams within the live music market. While ticket sales remain the primary source of income, ancillary revenues from sponsorships, merchandising, and branded experiences are becoming increasingly important. Brands are eager to associate with high-profile live music events to tap into engaged and diverse audiences, resulting in lucrative sponsorship deals and cross-promotional opportunities. Additionally, the rise of music festivals and club events has opened new avenues for merchandising, food and beverage sales, and experiential marketing. This diversification is mitigating risks associated with fluctuating ticket sales and is providing event organizers with more resilient and sustainable business models.

From a regional perspective, North America and Europe continue to dominate the live music market, driven by a high concentration of established artists, state-of-the-art venues, and a robust culture of live entertainment. However, the Asia Pacific region is rapidly emerging as a key growth engine, fueled by rising disposable incomes, increasing urbanization, and a burgeoning youth population with a strong appetite for live music experiences. Major cities in China, India, and Southeast Asia are witnessing a proliferation of music festivals, international tours, and local concerts, positioning the region for above-average growth over the forecast period. Latin America and the Middle East & Africa are also showing promising potential, with governments and private investors increasingly supporting the development of music infrastructure and event tourism.

Type Analysis

The live music mark

Introduction

Music streaming statistics: To put it simply, music streaming is one of the most popular industries today, with an amazing 713.4 million paid subscribers globally and a market generating over $28.6 billion in recorded music revenue. Streaming has fundamentally changed how we discover, consume, and interact with different songs and music. It now accounts for over 67% of the entire music industry's earnings, a figure that has multiplied more than 15 times over the past decade.

Leading the charge are giants like Spotify, which boasts over 626 million total users, and YouTube Music, which leverages a user base of over 2 billion (with YouTube). The overall market for music streaming apps was valued at $49.5 billion in 2025 and is on an aggressive upward trajectory, with forecasts predicting it will smash the $100 billion mark by 2030. Countries like Nigeria are at the forefront of this digital wave, with an incredible 91% of its population engaging with digital music. From Gen Z's listening habits to the per-stream payout rates for artists, the numbers tell a fascinating story of this in progress.

So, let's dive straight into the most comprehensive collection of music streaming statistics 2025. If you are a music artist, a developer, or a business person, this will help you out. Let’s get into it.

The digital music market is experiencing robust growth, driven by the increasing adoption of smartphones, high-speed internet access, and the rising popularity of streaming services. The market's expansion is fueled by a shift in consumer preference towards on-demand access to music, rather than purchasing physical copies or downloads. This trend is further bolstered by the continuous improvement in audio quality and the integration of music streaming into other digital platforms and smart devices. Major players like Spotify, Apple Music, Amazon Music, and YouTube Music dominate the market, competing fiercely through exclusive content, personalized recommendations, and innovative features. However, challenges remain, including piracy, royalty disputes, and the need for continuous innovation to retain user engagement in a saturated market. The forecast period (2025-2033) projects continued growth, albeit at a potentially moderating CAGR, as the market matures and saturation levels increase in developed regions. This moderation might be offset by strong growth in emerging markets with increasing internet and smartphone penetration. The market segmentation, encompassing various subscription tiers, advertising-supported models, and niche platforms, will continue to evolve, reflecting diverse consumer preferences and technological advancements. The competitive landscape is characterized by both established tech giants and specialized music streaming providers. These companies constantly invest in improving their platforms, user experience, and content libraries to maintain their market share. Strategic partnerships, mergers, and acquisitions are also expected to play a significant role in shaping the market landscape in the coming years. Geographic variations in market penetration and growth rates will continue, with regions exhibiting high internet and smartphone adoption leading the growth trajectory. Future growth will likely be driven by factors such as the expansion of 5G networks, the rise of AI-powered music discovery tools, and the increasing integration of music into the metaverse and other emerging technologies. While challenges persist, the overall outlook for the digital music market remains positive, indicating a significant opportunity for growth and innovation in the foreseeable future. Let's assume a conservative CAGR of 10% for illustrative purposes.

This table contains 76 series, with data for years 2005 - 2011 (not all combinations necessarily have data for all years), and was last released on 2015-08-12. This table contains data described by the following dimensions (Not all combinations are available): Geography (6 items: Canada; Ontario; Quebec; Atlantic provinces ...), North American Industry Classification System (NAICS) (4 items: Record production and integrated record production/distribution; Sound recording studios; Other sound recording industries; Music publishers ...), Summary statistics (4 items: Operating revenue; Operating expenses; Operating profit margin; Salaries; wages and benefits ...).

The structure of music publishing has changed dramatically over the past decade. Music consumption has largely transitioned to streaming platforms, which now form the bulk of revenue for music publishers – data from the International Federation of the Phonographic Industry (IFPI) indicates that 69% of global music industry revenue stemmed from streaming services in 2024. This shift has given the music industry a fresh lease on life, as it previously struggled to get listeners to spend on music. As a result, music publishing revenue is forecast to expand at a compound annual rate of 2.9% over the five years through 2025 to €14.2 billion. This includes a forecast rise of 2.2% in 2025. Streaming has also significantly boosted the monetary exploitation of classic albums, which have added new revenue streams for publishers with little added costs, boosting profitability. However, this has come at the cost of big influxes of sales with new releases, which have reduced revenue volatility. Despite the digitalisation trend, physical music sales have seen a resurgence, primarily driven by growing sales of vinyl records. According to IFPI data, physical music sales amounted to US$4.8 billion (€4.4 billion) globally in 2024, up from US$3.6 billion (€3.2 billion) in 2020. Although streaming is more convenient than vinyl, some listeners enjoy the sound quality of vinyl and create personal collections. Over the five years through 2030, music publishing revenue is projected to rise at a compound annual rate of 6.3% to €19.3 billion. The industry is poised for several changes in the future. Social media platforms like TikTok and Instagram have revolutionised music promotion, enabling independent music discovery and easier self-publishing. Though this enables more artists to bypass labels, publishers have also leveraged these sites for promotional activity. Studios are expected to use digital platforms for new media creation, such as immersive digital concerts, that could change the way people consume music.

The Musician Apps market, a dynamic sector within the broader music industry, has seen significant evolution and expansion over the past decade. With the proliferation of smartphones and tablets, these applications have become essential tools for musicians of all skill levels, facilitating everything from compositio

Discover the booming Original Music App market! This in-depth analysis reveals a $50B (2025) industry projected to reach $150B by 2033, driven by streaming subscriptions, mobile adoption, and global expansion. Explore market trends, leading players (Spotify, Apple Music, etc.), and regional insights.

The sales based on format of musical recordings for the record production and integrated record production and distribution industries, sound recording and music publishing (NAICS 512210 and 512220), for two years of data.

The US major label music production industry has experienced a dramatic reshaping over the past decade, driven by a technological revolution, changing consumer habits and the resurgence of old formats. While streaming remains the industry's dominant revenue engine, recent slowdowns in subscription growth and a renewed interest in physical formats like vinyl have begun to rebalance the sector’s revenue streams. The so-called "Big Three"—Universal Music Group, Warner Music Group and Sony Music Entertainment—continue to command over three-quarters of the market, leveraging sprawling catalogs and global reach to maintain profitability despite mounting competition from independent artists and nimble digital distributors. Labels had to adapt their business models to generate revenue from streaming, which typically yields lower profit per stream than traditional album sales but makes up for this by mitigating many of the costs associated with physical releases. Because of this offset, industry-wide revenue has been climbing at a CAGR of 4.7% over the past five years and is expected to total $13.7 billion in 2025, when revenue will mount by an estimated 2.0%. Platforms like Spotify and Apple Music enable listeners to enjoy an entire music library, a resonating offer in the digital media age. While this landscape has made finding an audience for a rising artist easier, labels must rely on a much larger volume of consumers to generate revenue through streams. The industry's fortunes have been underpinned by unprecedented growth in streaming, particularly paid subscriptions, which recently topped 100 million in the US alone. This surge, paired with rising disposable incomes and growing consumer appetite for music experiences, has bolstered overall revenue. While barriers to entry have lowered, industry consolidation has simultaneously accelerated, with the Big Three snapping up successful independent labels and rights businesses to diversify their offerings and cement control over both creative and business landscapes. Ultimately, an intensely competitive environment pressures profit. Both demand for and access to music are now more widespread than ever. This drastic shift in music consumption has demanded a response from the largest record labels, who have replied by redrafting contracts and investing more in performances and merchandising. Major labels will double down on acquisitions of independent producers and distribution firms while nurturing artists who can command global audiences through social media and direct-to-fan channels. Overall, revenue is forecast to climb at a CAGR of 2.3% to $15.4 billion through the end of 2030.

The structure of music publishing has changed dramatically over the past decade. Music consumption has largely transitioned to streaming platforms, which now form the bulk of revenue for music publishers – data from the International Federation of the Phonographic Industry (IFPI) indicates that 69% of global music industry revenue stemmed from streaming services in 2024. This shift has given the music industry a fresh lease on life, as it previously struggled to get listeners to spend on music. As a result, music publishing revenue is forecast to expand at a compound annual rate of 2.9% over the five years through 2025 to €14.2 billion. This includes a forecast rise of 2.2% in 2025. Streaming has also significantly boosted the monetary exploitation of classic albums, which have added new revenue streams for publishers with little added costs, boosting profitability. However, this has come at the cost of big influxes of sales with new releases, which have reduced revenue volatility. Despite the digitalisation trend, physical music sales have seen a resurgence, primarily driven by growing sales of vinyl records. According to IFPI data, physical music sales amounted to US$4.8 billion (€4.4 billion) globally in 2024, up from US$3.6 billion (€3.2 billion) in 2020. Although streaming is more convenient than vinyl, some listeners enjoy the sound quality of vinyl and create personal collections. Over the five years through 2030, music publishing revenue is projected to rise at a compound annual rate of 6.3% to €19.3 billion. The industry is poised for several changes in the future. Social media platforms like TikTok and Instagram have revolutionised music promotion, enabling independent music discovery and easier self-publishing. Though this enables more artists to bypass labels, publishers have also leveraged these sites for promotional activity. Studios are expected to use digital platforms for new media creation, such as immersive digital concerts, that could change the way people consume music.