The recorded music industry continued its strong growth in 2024, with all global regions experiencing revenue increases, as outlined in the IFPI Global Music Report 2025. Leading this expansion, the Middle East & North Africa (MENA) retained its position as the fastest-growing region, posting an impressive 22.8% rise in recorded music revenues, surpassing $144 million for the year.
Streaming remains the dominant force behind MENA’s music industry expansion, contributing a staggering 99.5% of total revenues. The region’s rapid digital transformation and growing listener base reinforce its significance in the evolving global music landscape.
IFPI CEO Victoria Oakley highlighted the broader implications of the report, stating, “Music continues to play an essential role in people’s lives, as demonstrated by the ongoing global industry growth. The potential for further development remains vast, driven by innovation, new technologies, and strategic investment in artists and the expanding global music ecosystem.” Oakley also emphasized that record labels play a crucial role in sustaining this momentum, providing long-term investment in creative talent and industry infrastructure.
Speaking to SceneNoise, IFPI MENA Regional Director Rawan Al-Dabbas remarked, “It is exciting to see MENA leading the global recorded music industry for the second time in three years. The market is developing in exciting ways, supported by the dedication and investment of record labels.”
One of the critical discussions in this year’s IFPI report revolves around the role of artificial intelligence in music. Oakley acknowledged that AI offers opportunities for enhancing artist creativity and fan engagement but warned against the risks posed by generative AI systems that exploit copyrighted music without permission. “We urge policymakers to safeguard music and artistry. AI should enhance human creativity, not replace it,” she stated.
MENA’s music industry growth outpaced other fast-growing regions, surpassing Sub-Saharan Africa, which recorded a 22.6% increase and crossed the $100 million revenue mark for the first time. Latin America followed with a 22.5% surge, continuing its 15-year streak of expansion, led by Brazil’s 21.7% growth and Mexico’s rise by 15.6%, making it the fifth-largest recorded music market globally.
Meanwhile, Europe, the second-largest music market, posted an 8.3% increase, with the UK, Germany, and France all seeing gains. North America, which commands the largest share of global revenues at 40.3%, grew by 2.1%, with the U.S. market rising by 2.2%.
Australasia recorded a 6.4% increase, driven by a 7.8% rise in New Zealand, while Australia saw a 6.4% gain despite dropping out of the top 10 global markets for the first time, overtaken by Mexico. Asia, after a strong 14.0% expansion in 2023, moderated to 1.3% growth in 2024, largely due to a slowdown in physical sales following South Korea’s record-breaking previous year. Japan, the world’s second-largest market, saw a slight decline, while China, ranked fifth globally, continued to grow at 6.2%.
As of 2024, the Top 10 recorded music markets worldwide are the USA, Japan, the UK, Germany, China, France, South Korea, Canada, Brazil, and Mexico, with Mexico surpassing Australia to claim the No. 10 position.
For the full report, visit globalmusicreport.ifpi.org.
