Adapted by Carlos Passage
www.billboard.com
Global music sales grew for the tenth consecutive year in 2024, but the risk of continued AI use of copyrighted music poses a threat to the industry’s future.
Total recorded music revenues reached $29.6 billion in 2024, a 4.8% increase year-over-year, according to the International Federation of the Phonographic Industry (IFPI) 2025 World Music Report.
The growth was driven by a strong increase in revenue from paid streaming platforms, which increased 9.5% to $15.2 billion. Combined, both paid and free ad-supported streaming formats grew 7.3% to $20.4 billion, representing 69% of global recorded music sales.
Although the growth rate in 2024 is roughly half of that in 2023 (when revenues increased by just over 10%), total music sales reached their highest level since 1999. Piracy and declining physical sales caused the market to bottom out in 2014, when revenues were just $13 billion.
However, the subsequent recovery and growth of the global recording industry are now jeopardized by AI technology companies seeking to use musical works without regard for copyright.
Last week, Paul McCartney and Paul Simon were among 400 musicians, filmmakers, writers, and actors who signed an open letter to the Trump administration opposing proposals by tech companies OpenAI, Anthropic, and Google that want to use copyrighted works without the rights of the copyright holders.
“We call on lawmakers to protect music and art,” says IFPI Executive Director Victoria Oakley. “We must harness the potential of AI to support and amplify human creativity, not replace it.”
TOTAL FIGURES: GLOBAL MUSIC REVENUES
Total: $29.6 billion
- Paid streaming: $15.2 billion
- Free streaming: $5.2 billion
- Physical (vinyl, CDs, cassettes): $4.8 billion
- Public performance rights: $2.9 billion
- Synchronization (music sold for TV commercials, radio, film, etc.): $650 million
