The global recorded music industry surpassed USD $30 billion in annual revenues for the first time in 2025, according to IFPI’s Global Music Report 2026, marking the eleventh consecutive year of growth and reinforcing broader momentum across the music ecosystem — including the live sector.

Recorded music revenues grew 6.4% year-on-year to USD $31.7 billion, with accelerating growth compared to 2024. The continued expansion of the global music business is widely seen as a key driver of artist development, fan engagement and touring demand.

Streaming growth fuels global fan demand

Streaming remains the dominant revenue driver, accounting for nearly 70% of total revenues and surpassing USD $22 billion in 2025. Paid subscriptions alone grew 8.8% year-on-year, reaching 837 million global users.

The continued expansion of paid streaming audiences is increasing global exposure for artists and accelerating cross-border discovery — factors that are directly influencing international touring routes, festival programming and ticket demand.

For the live industry, this growth is translating into increased demand for international touring, particularly in emerging markets, while also enabling faster audience-building for new and mid-level artists. At the same time, promoters and agents are increasingly using streaming data to inform routing decisions and identify new markets.

Emerging markets reshape touring landscape

All global regions recorded growth in 2025, with Latin America (+17.1%), the Middle East & North Africa (+15.2%), Sub-Saharan Africa (+15.2%) and Asia (+10.9%) leading expansion.

China’s rise to become the world’s fourth-largest recorded music market — overtaking Germany — highlights a continued shift in global market dynamics.

These developments are expected to have a direct impact on the live sector by expanding viable touring territories beyond traditional Western markets, increasing investment in venues, festivals and local promoters, and strengthening demand for international acts in high-growth regions.

Markets such as Brazil and Mexico entering the global Top 10 further underline the growing importance of Latin America as a touring destination.

Physical revival supports fan monetisation and live experiences

Physical music revenues returned to growth (+8.0%), driven by vinyl (+13.7%), marking its 19th consecutive year of growth.

The resurgence of physical formats is increasingly linked to fan engagement strategies in the live sector, with artists and promoters integrating merchandise bundles with concert tickets, offering limited-edition vinyl tied to tours, and driving on-site sales as an additional revenue stream.

Mature markets stabilise while growth shifts globally

North America, the largest recorded music region, grew by 3.5% — below the global average — reflecting a more mature market.

This slower growth contrasts with faster-expanding regions and suggests a gradual rebalancing of global touring economics, with promoters and agents increasingly looking to diversify into higher-growth territories.

Challenges remain: fraud and monetisation pressures

The report also highlights emerging risks, including streaming fraud and slower growth in performance rights revenues (+0.3%).

For the live industry, these challenges underline the importance of reliable audience data for tour planning, as well as fair revenue distribution to sustain artist pipelines and long-term touring viability.

Industry outlook: stronger pipeline for live music

While IFPI’s data reflects recorded music revenues, the underlying trends point to a strengthening foundation for the live music business.

A larger global fan base is expected to translate into higher ticket demand, while more geographically diverse touring circuits are emerging as key growth drivers. At the same time, continued artist discovery via streaming is increasing the supply of tour-ready talent, intensifying competition for bookings across promoters, festivals and venues.

IFPI CEO Victoria Oakley noted the need for industry-wide collaboration to address future challenges, particularly around fraud, while continuing to support sustainable growth.

As recorded music revenues continue to expand, the data reinforces a broader industry trajectory in which streaming-led discovery and global market growth are increasingly feeding into the live economy — shaping touring strategies, investment flows and audience development worldwide.

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