The International Federation of the Phonographic Industry has released “Global Music Report 2025”, this year’s edition of its annual report detailing what happened in the music industry worldwide last year.
The report says that the worldwide music industry saw revenue grow for the ninth consecutive year, by 4.8% in 2022, totaling $29.6 billion.
Streaming revenue grew by 7.3%, and now makes up 69% of global revenue, at $17.5 billion. This was driven by a 9.5% growth in paid subscription revenue. Paid streaming services worldwide account for 51.2% of global revenue. Ad-supported streaming services make up of the remaining 17.7% of global revenue that streaming accounts for.
After streaming, the next biggest source of revenue is physical, which now makes up 16.4% of global revenue, at $4.8 billion. There was a 3.1% decrease in revenue last year, after three years in a row where the physical market grew. CD revenue fell 6.1% and music video revenue by 15.5%, while vinyl sales continued to grow by 4.6%, the 18th consecutive years of growth.
Physical is followed by performance rights, which makes up 9.7% of global revenue, at $2.9 billion, a increase of 5.9%.
After performance rights is downloads and other digital, which now makes up 2.8% of global revenue. This segment brought in $800 million last year, an 7.7% decline. This is the 12th year in a row where this segment declined.
The last segment is synchronization. It makes up 2.2% of global revenue at $650 million. This segment grew by 6.4% compared to 2023. This is the fourth year in a row where this segment grew.
The top 10 music markets in order are the United States, Japan, the United Kingdom, Germany, China, France, South Korea, Canada, Brazil, and Mexico, with Mexico entering then top ten last year.
For the tenth consecutive year, Asia saw growth, with an increase of 1.3%. Japanese revenue was flat last year, with a decline of 0.2%. China saw revenue grow by 9.6%. Asia was also responsible for 45.1% of global physical revenue, the largest of any region.
