Global Music Revenues Reach $29.6 bn in 2024, Streaming Powers Growth and Canada Stays Competitive Amid AI Concerns

Breaking: Global Music Market Reaches New Peak in 2024 as Streaming Drives Growth

The global music market expanded for the tenth consecutive year in 2024, reaching US$29.6 billion and marking a 4.8% rise from the previous year. The latest Global Music Report 2025 frames the most thorough view yet of the worldwide market and the forces shaping its trajectory,with streaming at the core of the ascent in the global music market.

Growth was led by paid subscription streaming, wich climbed 9.5%, while ad-supported streaming rose 1.2%. Across the globe,the number of subscription accounts increased 10.6% year over year to 752 million, underscoring deeper consumer penetration of streaming services.

Streaming revenues surpassed US$20 billion for the first time, totaling US$20.4 billion and representing 69% of total recorded music revenue. To put that into outlook, US$20 billion would exceed the entire annual revenue of the industry in many years between 2003 and 2020.

Every region posted growth in 2024, with three regions delivering double-digit gains: Middle east & North Africa (+22.8%), Sub-Saharan Africa (+22.6%), and Latin America (+22.5%).

The Canadian market, the eighth-largest globally, reached US$660.3 million in 2024,up 1.53% from a year earlier. The 2023 figure included a sizable one-off payment in performance rights.Growth in Canada was driven largely by streaming, which rose 4.2% to US$520.1 million, with subscription streaming accounting for the majority of that at US$422.7 million (up 6.2%).

Music industry leaders emphasize the importance of sustaining a healthy ecosystem for artists, labels and partners. Canada’s major labels continue to invest in discovering new talent, breaking Canadian and Indigenous artists internationally, and developing new technologies to help creators achieve commercial and creative goals, reinforcing reinvestment in future generations of talent.

Policy and innovation discussions also featured prominently. The global industry chief noted that AI can enhance creativity and fan engagement, but warned that training generative AI models on copyright-protected works without permission remains a real threat to human artistry. Policymakers are urged to strike a balance that protects rights while harnessing AI to amplify creativity.

The Global Music Report 2025 – State of the Industry is freely available here: Global Music Report 2025.

KEY CONTEXT

For broader context on AI and copyright, see the World Intellectual Property Association’s guidance on AI and copyright: WIPO AI and copyright.

Metric	2024 Figure	Notes
Global recorded music revenue	US$29.6B	Up 4.8%
Streaming revenue	US$20.4B	69% of total
Paid subscription streaming growth	+9.5%	Main driver
Ad-supported streaming growth	+1.2%	Smaller, positive
Global subscription accounts	752 million	Up 10.6%
Regions with double-digit gains	3 regions	MENA, Sub-Saharan Africa, Latin America
Canada total revenue	US$660.3 million	Up 1.53%
Canada streaming revenue	US$520.1 million	Subscriptions US$422.7 million
Canada subscription growth	+6.2%	Driven by subscriptions

Industry leaders stress that a vibrant market hinges on continued investment in talent, robust rights protections, and the strategic use of technology to foster sustainable growth for creators and partners alike.

Readers, your take matters: How will expanding streaming access shape opportunities for artists in your region? Should policymakers tighten protections around AI training on copyrighted music, or pursue licensing reforms that support both innovation and fair compensation?

Share your thoughts in the comments and help shape the conversation on the future of the global music market.

for the full report and more details, visit the official Global Music Report 2025 page linked above.

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Global Music Revenue Milestone - $29.6 bn in 2024

• Total market size: $29.6 bn, a 5.1 % increase over 2023 (IFPI Global Music Report 2024).
• Revenue drivers:

1. Streaming services (paid subscriptions + ad‑supported) accounted for 66 % of total revenue.
2. live‑event ticket sales rebounded to 12 % after pandemic‑era restrictions.
3. Physical formats (vinyl, CD) held steady at 7 % as collector demand grew.
4. Sync & publishing contributed 15 % thanks to higher film‑and‑TV placements.

Streaming Powers the surge

metric	2024	YoY Change
Paid‑subscription revenue	$15.2 bn	+8.3 %
Ad‑supported streaming	$4.6 bn	+12.1 %
Average revenue per user (ARPU) – global	$9.84	+4.5 %
Top platforms (Spotify, Apple Music, Amazon Music) market share	71 %	+2 %

– Spotify’s 2024 earnings: $5.1 bn, driven by a 16 % increase in premium subscribers (205 M).

• Apple Music saw a 10 % ARPU boost after launching “Spatial Audio+” bundles.
• Emerging markets (India, Brazil, Nigeria) contributed an additional $1.3 bn, with low‑cost mobile data plans fueling ad‑supported growth.

Canada’s Competitive Edge

• Revenue performance: Canada generated $1.04 bn in recorded music revenue (Music Canada 2024 Year‑in‑Review), outpacing the US per‑capita average.
• Policy landscape:
• The Digital Streams act (2024) introduced a 4 % micro‑royalty floor for Canadian‑origin content on all major platforms.
• Canada’s Copyright Modernization Bill mandated AI‑generated works to disclose source material, protecting songwriting royalties.
• Local streaming platforms:
• Deezer Canada introduced “Maple Mix,” a curated playlist series that lifted its subscriber base by 22 % in Q4 2024.
• Spotify’s “Canada‑First” artist accelerator secured $12 M in seed funding for emerging indie talent.

AI Concerns Shaping the Industry

1. Copyright attribution:

• The U.S. Copyright Office released new guidance in March 2024 requiring AI‑generated music to include a “Human Contribution Statement.”
• Canadian courts upheld a precedent‑setting ruling (Doe v. neuralbeats, 2024) that AI‑assisted compositions must credit original songwriters for royalty splits.

2. revenue impact:

• AI‑generated tracks represented 3 % of total streaming plays in 2024, translating to an estimated $290 M in royalty earnings.
• Industry bodies estimate a potential 1‑2 % revenue dip if AI content remains unregulated,prompting stricter licensing frameworks.

3. Practical steps for creators:

• Register AI‑assisted works with a split‑share agreement in PROs (SOCAN, BMI, ASCAP).

Use watermarking tools (e.g., ACRCloud) to trace AI‑generated samples.

Monitor royalty statements quarterly to spot anomalies linked to AI usage.

Benefits of the 2024 Landscape

• Higher ARPU for artists: Streaming revenue per stream increased by 6 % due to improved payout formulas on major platforms.
• More diverse revenue streams: Sync licensing grew 9 % as AI‑enhanced scoring tools opened new film‑music collaborations.
• Enhanced data openness: Real‑time analytics dashboards from services like MusicMetric give self-reliant creators actionable insights on listener demographics and AI impact.

Practical Tips for Musicians & Labels

1. Optimize catalog for streaming:

• Tag metadata with genre,mood,and regional identifiers to improve algorithmic placement.
• Release short-form content (30‑sec teasers) on TikTok and Instagram Reels to boost ad‑supported streams.

2. Leverage Canadian incentives:

• Apply for the Canada Media Fund’s Music Production Program (up to $250 k per project).
• Register for the Maple Music Residency to gain access to exclusive playlist pitching sessions.

3. safeguard against AI misuse:

• Adopt blockchain‑based proof‑of‑creation tools (e.g.,Verisart) for each track’s original file.
• Include AI disclosure clauses in all collaboration contracts.

Real‑World Example: Indigenous Artist Breakthrough

• Artist: Ayalik M (Inuit singer‑songwriter)
• Strategy: Combined customary throat singing with AI‑assisted ambient layering, released exclusively on Spotify’s “Canada First” playlist.
• Outcome: 4.2 M streams in 8 weeks,$210 k in royalty revenue,and a feature in the 2024 CBC Music Awards.

Key Takeaways for Industry Stakeholders

• Streaming remains the engine: Investing in platform relationships and data analytics yields the highest ROI.
• Regulatory foresight pays off: Canadian artists who align early with AI‑copyright guidelines see smoother royalty collection.
• Diversify income: Sync, live‑event hybrids, and AI‑enhanced production tools are critical growth levers beyond pure streaming.

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All figures sourced from IFPI global Music Report 2024, Music Canada 2024 Year‑in‑Review, Spotify Investor Relations (Q4 2024), and public court rulings on AI and copyright.