The Streaming Revolution: A Decade of Transformation

The $29.6 billion figure represents a dramatic turnaround for the music industry, which faced significant challenges in the early 2000s with the rise of piracy. Streaming not only provided a legal alternative but also unlocked new revenue streams and expanded access to music for billions worldwide. To illustrate the scale of this change, streaming revenues now exceed US$20.4 billion, surpassing the combined revenues of the entire recorded music industry for *every* year between 2003 and 2020. This is a testament to the industry’s ability to innovate and adapt.

Regional Growth Hotspots

Growth wasn’t limited to established markets. Every region globally experienced revenue increases in 2024. The Middle East & North Africa (+22.8%), Sub-Saharan Africa (+22.6%), and Latin America (+22.5%) led the way with double-digit gains, indicating a burgeoning demand for music in these regions. These markets represent significant opportunities for future expansion and investment.

Canada’s Position in the Global Landscape

The Canadian music market, currently the eighth largest globally, generated US$660.3 million in revenue. While growth was a more restrained 1.53% year-over-year, this figure is somewhat skewed by a large one-time payment received in performance rights revenues in 2023. Streaming continues to be the primary driver of growth in Canada, accounting for US$520.1 million, a 4.2% increase. Within streaming, subscription services dominate, contributing US$422.7 million, up 6.2% from the previous year.

Patrick Rogers, CEO of Music Canada, emphasized the need for continued support for the Canadian music ecosystem. “This report clearly demonstrates that Canada must continue to foster a healthy music environment for artists, record labels and their partners. Canada’s major labels invest heavily in finding new talent, breaking Canadian and Indigenous artists at home and around the world, and developing new technologies to help them achieve their commercial and creative goals. A robust Canadian market is what enables that re-investment and the success of future generations of talent.”

The Emerging Role of Artificial Intelligence

The Global Music Report also addresses the increasingly important role of artificial intelligence (AI) in the music industry. While record companies are exploring AI’s potential to enhance creativity and fan experiences, concerns remain regarding the unauthorized use of copyrighted music to train AI models. Victoria Oakley, CEO of IFPI, stated, “It is very clear that the developers of generative AI systems ‘ingesting’ copyright-protected music to train their models without authorisation from the rightsholders poses a very real and present threat to human artistry.” The IFPI is advocating for policies that protect artists and copyright holders in the age of AI. What safeguards will be necessary to balance innovation with the rights of creators?

The debate surrounding AI and music raises fundamental questions about the future of creativity and intellectual property. How can we ensure that AI serves as a tool to *augment* human artistry, rather than replace it?

Further information about the report is available here.

Frequently Asked Questions About Global Music Revenue

• What is driving the growth in global music revenues?

  The primary driver is paid subscription streaming, followed by ad-supported streaming. Consumer preference for on-demand, ad-free listening is a key factor.

• How significant is the impact of streaming on the music industry?

  Streaming revenues now represent 69% of total recorded music revenues, exceeding US$20.4 billion. This is more than the entire industry generated annually between 2003 and 2020.

• Which regions are experiencing the fastest growth in music revenue?

  The Middle East & North Africa, Sub-Saharan Africa, and Latin America are leading the way with double-digit growth rates.

• What is the current status of the Canadian music market?

  Canada remains the eighth largest music market globally, generating US$660.3 million in revenue in 2024, with streaming as the primary growth driver.

• What concerns does the IFPI have regarding artificial intelligence and music?

  The IFPI is concerned about the unauthorized use of copyrighted music to train AI models, which poses a threat to the rights of artists and copyright holders.