Music Industry Statistics & Data
Comprehensive data on the global music industry, streaming revenue, live music, artist economics, and music promotion trends.
40 curated statistics with source citations
The global music industry continues to experience significant growth, driven primarily by streaming subscriptions, emerging markets, and the live music sector. These statistics capture the full scope of the recorded music, live performance, and music promotion landscape.
Data is sourced from the International Federation of the Phonographic Industry (IFPI), Recording Industry Association of America (RIAA), Goldman Sachs, MIDiA Research, Spotify, and Luminate. All figures represent the most recently published data.
Use these data points to understand market dynamics, benchmark your music promotion strategies, and make informed decisions about artist development and marketing investment.
Global Recorded Music Revenue
The total size and growth of the recorded music market.
Global recorded music revenues reached $28.6 billion in 2023, marking the ninth consecutive year of growth.
Global recorded music revenues grew 10.2% year-over-year in 2023.
The US recorded music market generated $17.1 billion in revenue in 2023, the largest single national market.
Goldman Sachs projects global recorded music revenue will reach $65 billion by 2030.
Emerging markets in Latin America and Asia grew by 22% in 2023, outpacing all other regions.
Physical music sales (vinyl, CD) still generated $2.3 billion globally in 2023.
Performance rights revenue grew 14% globally in 2023, driven by the return of live events.
Streaming & Digital Music
The dominant distribution channel for modern music.
Streaming now accounts for 67% of total global recorded music revenue.
Spotify reported 626 million monthly active users in Q3 2024, including 246 million premium subscribers.
Apple Music has over 120 million active subscribers globally.
Over 100,000 new tracks are uploaded to music streaming platforms every day.
The average per-stream payout on Spotify ranges from $0.003 to $0.005 per stream.
Live Music & Touring
The live music sector and its economic impact.
The global live music market was valued at approximately $35 billion in 2023.
Live Nation sold over 145 million tickets to live events in 2023.
Approximately 80% of an artist's income now comes from touring and live performances rather than recorded music sales.
The live music market is projected to grow at a CAGR of approximately 15% through 2030.
Artist Economics & Promotion
How artists earn revenue and promote their work.
Only about 10% of artists on major streaming platforms generate enough streams to earn a sustainable living from recordings alone.
There are over 61 million artist profiles on Spotify, but only about 2 million have over 1,000 monthly listeners.
Music artists and labels spent an estimated $2.5 billion on music marketing and promotion globally in 2023.
Seventy-four percent of independent artists say social media is their most important promotion tool.
Fifty-five percent of music listeners discover new artists through streaming platform playlists and algorithms.
Forty-three percent of music fans say they have purchased merchandise or tickets after discovering an artist on social media.
Music Consumption Habits
How listeners discover and consume music today.
Over 2.1 billion people worldwide now listen to music through streaming services.
The average person listens to 20.7 hours of music per week globally.
Thirty-seven percent of global music listening time happens on paid streaming platforms.
Video streaming platforms like YouTube account for 31% of total music consumption time.
Radio still accounts for approximately 22% of total music listening, despite the rise of streaming.
Forty-eight percent of Gen Z listeners discover new music through short-form video platforms like TikTok.
Music Industry Trends
Emerging trends shaping the future of music.
AI-generated music represents a nascent but growing market estimated at over $300 million in 2024.
Catalog music (tracks older than 18 months) now accounts for approximately 25% of the value of major label portfolios.
Music publishing revenues reached $4.1 billion in 2023, driven by growing sync licensing and streaming royalties.
Podcasts and audio content drove a 32% increase in audio platform engagement, benefiting music discovery.
Fan-funded music (crowdfunding, direct-to-fan platforms) grew 18% year-over-year in 2023.
Music rights catalog acquisitions totaled over $1.2 billion in deal value in 2023.
Methodology
Statistics are compiled from the IFPI Global Music Report, RIAA year-end reports, Goldman Sachs Music in the Air research, MIDiA Research, Spotify earnings reports, and Luminate (formerly MRC Data/Nielsen Music). All data represents the most recently published findings.
We review and update this page as new industry reports are published. Publication year is noted for each statistic for verification.
Frequently Asked Questions
How much is the global music industry worth?
What percentage of music revenue comes from streaming?
How many paid streaming subscribers are there?
How much does a stream pay an artist?
Is live music still profitable?
How do listeners discover new music?
How much is spent on music marketing?
Turn Data Into Results
These statistics tell a story. Let us help you write yours. Our team leverages industry data to build strategies that deliver measurable outcomes.