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IFPI Global Report 2024: Music Revenues Climb 10% to $28.6 Billion
In the IFPI's annual Global Music Report covering the music industry 2023, revenues jumped 10% to $28.6 billion, the highest figure since 1999.
Total streaming revenues, comprising of paid subscription and advertising-supported tiers, rose 10% to $19.3 billion to make up 67% of worldwide recorded music sales, roughly flat with last year’s share of the market. (IFPI uses current exchange rates when compiling its Global Music Report, restating all historic local currency values on an annual basis. “While I’m enthusiastic about where the evolution will lead, it is essential that we find new products and new business models around these technologies to ensure the future of human creativity can be invested in, and that creators can be rewarded,” Kooker said.
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