Global Recorded Music Revenues Top $28 Billion in Annual Report

Paid subscription streaming drives uninterrupted expansion for the ninth consecutive year.

The IFPI annual market report revealed global recorded music trade revenues exceeded $28 billion. Paid streaming services accounted for nearly half of all receipts, propelled by subscriber increases across emerging Latin and Asian territories.

Physical sales demonstrated resilience, bolstered by fervent vinyl collectors. Record executives emphasize continued optimization of subscription tiers to preserve average revenue per user.