Global Music Revenues Hit $31.7 Billion in 2025

Global recorded music revenues reached a record $31.7 billion in 2025, marking an 6.4 percent increase and the 11th consecutive year of growth, according to the International Federation of the Phonographic Industry's annual report released this week.

The organization, which represents thousands of record labels worldwide, attributed the expansion primarily to streaming, which accounted for 69.6 percent of total revenues and generated more than $22 billion. Paid subscription services drove much of that figure, contributing 52.4 percent of overall income or about $16.6 billion, with a user base that grew 8.8 percent to 837 million subscribers globally. This surge reflects broader consumer engagement, as more people opt for premium access to music platforms.

Physical formats also showed resilience, with revenues rising 8 percent overall. Vinyl sales led the category, increasing 13.7 percent in their 19th straight year of gains, fueled by fan interest in collectible editions. Drew Hill, managing director at Proper Music Distribution, noted that these sales provide a tangible connection that digital streaming cannot fully replicate. He highlighted growth in nearly every major market,...