According to the 2026 Global Music Report, the International Federation of the Phonographic Industry revealed that revenues rose 6.4% to $31.7 billion in 2025.
Consequently, the industry celebrated its eleventh straight year of global growth.
Streaming Drives Growth
Streaming drives the industry’s expansion.
Last year, it generated over $22 billion, making up nearly 70% of total income.
Moreover, paid subscriptions grew 8.8% and now contribute more than half of global revenues.
Consumers Pay More
Meanwhile, consumers increasingly pay for music.
Around 837 million users worldwide now subscribe to streaming services, reflecting stronger access and willingness to pay for content.
Furthermore, CEO Victoria Oakley explained that growth stems from strong collaboration between artists and record companies.
She also noted that paid streaming allows companies to reinvest in diverse music communities worldwide.
However, the industry faces challenges.
Streaming fraud is rising, with fake plays diverting income from genuine artists.
Therefore, stakeholders urge coordinated action to protect earnings.
Technology Shapes Music
Technology also shapes the next phase of growth.
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Record companies increasingly use artificial intelligence to support creativity.
Additionally, they develop licensing models that protect rights and ensure fair artist compensation.
Other revenue streams show improvement too.
Physical music sales grew by 8%, largely due to rising vinyl demand.
Vinyl has now recorded 19 consecutive years of growth globally.
Performance rights revenues reached $2.9 billion in 2025, marking the fifth consecutive year of steady growth in that segment.
In Nigeria, the growth appears more visible.
Spotify reported that Nigerian artists earned over ₦60 billion in 2025.
Consequently, Nigerian music, especially Afrobeats, attracts rising global demand.
Overall, the music industry continues to expand and adapt.
Streaming, global audiences, and evolving technology drive growth while reshaping how the world experiences music.
