Global Recorded Music Industry to Reach $110.8 Billion by 2032

The latest MIDiA Research report has forecasted significant growth in the global recorded music industry from 2025 to 2032. The meticulous approach taken by MIDiA in crafting these forecasts ensures accuracy and reliability, setting them apart in the industry. The report projects that by 2032, global recorded music revenues will reach $110.8 billion, encompassing various revenue streams like streaming, downloads, physical sales, and more. This comprehensive view reflects the evolving landscape of the music industry and the diverse sources contributing to its revenue.

In 2024, the industry experienced a growth rate of 4.3%, following a pattern of alternating strong and weak growth years. These fluctuations are indicative of the shifting dynamics within the market, with streaming growth maturing and traditional revenue sources like physical sales playing a significant role in revenue outcomes. The report, aptly titled ‘Recalibration,’ highlights the need for adaptation and adjustment to the changing market conditions.

One notable trend identified in the report is the clear shift away from Western markets, with a substantial portion of subscriber growth originating from non-Western regions. China, in particular, has emerged as a key player in the global music market, underscoring the industry’s increasingly globalized nature. This trend has led to Western entities acquiring rights to Global South music, signaling a potential shift in investment patterns within the industry.

The report also delves into the evolving power dynamics among digital service providers (DSPs), emphasizing their growing influence and the implications for rights holders. The emergence of AI-generated music presents both opportunities and challenges for the industry, with ethical considerations and legal implications to navigate. As the market continues to evolve, stakeholders must stay abreast of these developments to make informed decisions and capitalize on emerging opportunities.

With an 83-page report offering in-depth analysis, these insights represent only a fraction of the comprehensive data and trends outlined by MIDiA Research. The macro dynamics shaping the music industry underscore the need for strategic foresight and adaptability in navigating an ever-changing landscape. As the industry continues to evolve, stakeholders must leverage these insights to drive innovation, foster growth, and capitalize on emerging opportunities in the global music market.