The European Union added EUR €470 million in recorded music revenues in 2024 – the biggest absolute development of any area worldwide – reaching EUR €5.7 billion (USD $6.2 billion), up 9.1% YoY.
The expansion was pushed by “a powerful rise in subscribers and value will increase by streaming platforms,” in keeping with a brand new IFPI report, and “was greater than double that of america (+€220m) and surpassed the mixed income development [in dollar terms] of america, China (+€132m), and Brazil (+€106m),” stated IFPI.
Whereas the EU added probably the most income in greenback phrases final yr, as reported in March when the IFPI revealed its International Music Report, the world’s quickest rising area in proportion phrases final yr was the Center East & North Africa, which was up +22.8% YoY, adopted by Sub-Saharan Africa (+22.6% YoY) and Latin America (+22.5% YoY).
In accordance with the second version of the Music within the EU report from the IFPI, the quickest income development in Europe was seen in Sweden, up 30.2% YoY, adopted by Romania (up 26.9%), Hungary (23.9%), and Poland (22.3%). You’ll be able to learn the full report right here.
Nonetheless, Sweden’s income bounce was attributable to a one-off fee on a non-public copying levy overlaying a number of years, the report famous. Excluding that levy, its development was round 6.5%.
“The quickest rising markets tended to be these in Central, Japanese and South-Japanese Europe,” the report stated.
The slowest-growing markets had been Germany (up 4.1%), the UK (which isn’t within the EU however was included in a few of the report’s metrics, up 4.9%) and Denmark (5.6%).
The report famous that the EU now accounts for greater than a fifth of worldwide recorded music revenues, powered partially by a “surge in homegrown expertise.”
As different analysis has proven, Europe is among the many main areas the place native expertise has made main inroads within the age of streaming. On common, home artists had 50.9% of the spots on countrywide year-end prime 10 lists, whereas one other 7.7% had been from artists from different EU international locations. Globally, native artists averaged 47.2% of the spots on year-end prime 10 lists.
In Finland, Hungary and Italy, the entire year-end prime 10 tracks had been from home artists, the report famous.
Regardless of the EU market’s power, the IFPI famous that Europe is lagging behind different developed markets on a key metric: music streaming subscriber penetration.
Whereas streaming contributed 77.4% of recorded music revenues within the EU, the variety of streaming subscriptions, as a proportion of complete inhabitants, was effectively behind different markets at 25%. That compares to 46% within the UK and 52% within the US.
Meaning there’s “nice potential for additional development,” the report stated.
The IFPI‘s newest EU-focused report for 2024 follows current H1 2025 stats revealed for 3 key European markets, together with Germany, France, and Spain.
New information revealed by Promusicae earlier this month revealed that Spain’s recorded music business maintained sturdy development within the first half of 2025, with wholesale revenues reaching EUR €162.6 million (USD $178 million), up 10.4% YoY.
The German Music Business Affiliation (BVMI) reported in July that recorded music gross sales within the first half of 2025 hit EUR €1.157 billion (USD $1.36bn on the common alternate price for Q2 2025), on a retail foundation. That’s up simply 1.4% from the identical interval a yr earlier.
France, in the meantime, recorded a 3.4% YoY improve in H1, in keeping with information from business group SNEP.
Commenting on the contents of the brand new report, IFPI CEO Victoria Oakley stated: “Europe is a powerhouse of musical creativity and cultural variety. This success isn’t any accident – it’s the results of years of funding, innovation, and an unwavering dedication to artists.”
“To remain forward, we want sturdy, forward-looking insurance policies that shield human creativity and make AI work within the service of music, not the opposite means round.”
Victoria Oakley, IFPI
Added Oakley: “Report labels have performed a central position in constructing this thriving ecosystem, serving to artists develop at dwelling and attain followers all over the world. However to remain forward, we want sturdy, forward-looking insurance policies that shield human creativity and make AI work within the service of music, not the opposite means round.”
AI is a key theme within the IFPI report, with the commerce group urging governments to implement the European Union’s AI Act strictly. The regulation consists of the power of rights holders to decide out of getting their works used to coach AI, and mandates transparency necessities for AI builders within the supplies they use to coach their fashions. Some rights holders’ teams, together with IFPI, have argued that the regulation’s implementation has been weaker than anticipated.
“It’s now important that the European Fee takes lively and efficient steps to make sure really significant compliance with the AI Act – according to the spirit and letter of the regulation enacted by the EU,” Oakley wrote within the preamble to the Music within the EU report.
Artists taking an even bigger share of the income pie
The report additionally included some world information, most notably a breakdown of the share of recorded music revenues that has been going to artists. It discovered there was a gentle improve in artists’ share of income over the previous decade – no less than for artists with the three recording majors (Sony Music Leisure, Common Music Group and Warner Music Group).
In 2024, artists took 35.5% of digital, bodily and synch revenues on the recording majors, up from 31% in 2016.
“Remuneration… is rising at the next price than the respective recorded music revenues of these corporations,” the report stated.
“Between 2016 and 2024, artist remuneration from recorded music elevated globally by 121%, forward of the report corporations’ respective world revenues which elevated by 92% over the identical interval.”
The report additionally stated that, worldwide, report corporations invested $8.1 billion in A&R and advertising and marketing in 2024, representing round 30% of their revenues for the yr.Music Enterprise Worldwide
