Global Recorded Music Revenue Reached $31.7 Billion Last Year, China Becomes the World's Fourth Largest Music Market

Beijing News (Reporter Zhang Jianlin) — On March 18, the International Federation of the Phonographic Industry (IFPI) released the “Global Music Report 2026” (hereinafter referred to as the “Report”). The Report shows that in 2025, global recorded music revenue increased by 6.4% year-over-year, reaching $31.7 billion, marking the eleventh consecutive year of growth. China surpassed Germany to become the world’s fourth-largest music market, with revenue soaring by 20.1% year-over-year, ranking first among the top 20 markets in growth rate.

Data indicates that recorded music revenue increased in all regions worldwide in 2025, with four regions achieving double-digit growth. Latin America was the fastest-growing region, with a 17.1% increase. As the largest regional market for recorded music, North America (United States and Canada) saw a 3.5% revenue growth in 2025, accounting for 38.7% of the global total and contributing over $4 billion in additional revenue.

In 2025, Asia showed strong growth, with revenue increasing by 10.9% year-over-year, remaining the highest in physical music revenue globally, accounting for 45.1% of the world’s physical music income. The Report also highlights that paid streaming remains the industry’s core growth driver, with revenue from this segment growing by 8.8% year-over-year, representing 52.4% of total global revenue. The number of global paid streaming subscribers has reached 837 million.

The Report consists of five sections, including market data and discussions on industry issues such as the relationship between artificial intelligence and music, and streaming fraud.

The Report states that music companies have long-standing and mature experience in driving innovation and creating new opportunities for artists. AI represents a new wave of technological innovation, and record labels are at the forefront of this transformation. Currently, labels are actively collaborating with AI developers to explore fair and reasonable music licensing models to create new revenue streams. However, some malicious entities are developing generative AI systems using copyrighted content without authorization or payment. The content generated by these systems directly competes with original works and has been widely integrated into streaming platforms, diverting audiences and revenue, which impacts artists.

The Report believes that the music industry faces increasingly severe threats from streaming fraud. Malicious actors manipulate play counts by fabricating or falsifying content, stealing key revenue from musicians and other core industry participants. Although record labels have taken strict countermeasures, relevant organizations across the streaming value chain must proactively act to prevent, identify, and combat fraud.

Victoria Oakley, CEO of the International Federation of the Phonographic Industry, stated: “The entire music industry must take action to address the various threats it faces. Streaming fraud is essentially theft, and this is undeniable. Organizations with data control, scale advantages, and influence—including streaming platforms, content aggregators, and distributors—must take decisive action to combat such fraud.”

The Report is recognized as the authoritative data source for the global recorded music industry. Its data is directly provided by member record labels worldwide and verified by national chapters of the association. It also consolidates detailed consumption data from partner chart organizations, offering the most accurate and detailed analysis of the global recorded music market.

Editor: Zhang Lei
Proofreader: Yang Xuli