US & Global Revenue Growth, Music Market Shifts, and New Piracy Legal Battles

How The Music Business Works - Issue #4

March 20, 2025

Welcome back to How the Music Business Works, your trusted source for the latest music industry insights!

In this edition, we explore key industry updates: global recorded music revenues reached $29.6 billion in 2024, while U.S. streaming growth slowed to 3.6%.

On the international front, Italy has become the third-largest EU music market, and IMPALA has partnered with WIN to launch a new EU co-funded networking program. Meanwhile, stateside, Grande Communications is urging the U.S. Supreme Court to review its copyright battle with major labels.

Read on for more!

Global Recorded Music Revenues Hit $29.6bn In 2024, Up 4.8% Yoy; Users Of Paid Music Subscriptions Reach 752m​

Global recorded music revenues reached $29.6 billion in 2024, reflecting a 4.8% year-on-year increase. This growth was primarily driven by paid subscription streaming, which rose by 9.5%. The total number of paid music subscription users climbed to 752 million, underscoring the continued shift toward premium streaming services. While subscription revenues played a key role, other segments like physical sales and performance rights also contributed to the overall market growth. The industry continues to expand, though growth rates are slowing compared to previous years.

​Recorded Music Streaming Revenues Grew By Just 3.6% YoY In The United States In 2024 – Dragged Down By A Decline In Advertising Payouts​

In 2024, the United States’ recorded music streaming revenues experienced a modest growth of 3.6% to $14.88 billion, slowed by a 1.8% decline in ad-supported streaming. Paid subscription revenues rose 4.6%, reaching $11.685 billion, while total U.S. recorded music revenue hit $17.67 billion. Paid subscriptions surpassed 100 million but saw slower growth. This trend suggests that while paid subscriptions continue to grow, the overall expansion of streaming revenues is being tempered by declines in ad-supported models and a slowing rate of new subscriber additions. 

Italy is Now the Third-Largest EU Music Market Behind Germany and France​

In 2024, Italy’s recorded music revenues grew by 8.5%, making it the third-largest music market in the European Union, behind Germany and France. This growth was driven by strong gains in streaming revenues, reflecting the increasing adoption of digital music services in the country. Italy’s position as a leading market highlights its growing influence within the European music landscape. The rise follows consistent growth trends in recent years, with both local and international artists contributing to the expanding market. This achievement reflects Italy’s strengthening presence in the global music industry.

Impala Announces Collaboration with WIN to Develop a New EU Co-Funded Networking Program with WINHUB Events​

IMPALA, the Independent Music Companies Association, has joined forces with the Worldwide Independent Network (WIN) to launch WINHUB, a new EU co-funded networking initiative. The program is designed to foster collaboration and strengthen connections within the independent music sector across Europe. WINHUB will provide a platform for independent music businesses to engage through dedicated events, workshops, and networking opportunities. By promoting cross-border cooperation and knowledge-sharing, the initiative aims to support the growth and development of independent music companies while enhancing their presence in the global market.

Another Big ISP Wants the US Supreme Court to Intervene in Its Piracy Battle With the Majors​

Grande Communications has petitioned the U.S. Supreme Court to review its copyright infringement case involving major record labels. The company argues that current rulings could compel ISPs to disconnect customers after receiving infringement notices, potentially affecting institutions like schools and hospitals. This move follows a similar appeal by Cox Communications, highlighting broader concerns within the ISP industry regarding liability for user activities.