Latin America continues to be a powerhouse in the global music industry, posting a remarkable 22.5% increase in recorded music revenues in 2024, according to IFPI’s newly released Global Music Report 2025. This marks the fifteenth consecutive year of growth for the region, that includes the English speaking Caribbean territories, once again surpassing the global average and reinforcing its dominance in the streaming era.
Brazil led the charge with a 21.7% increase, making it the fastest-growing market among the global top ten, while Mexico climbed into the tenth spot worldwide with a 15.6% revenue boost. Streaming remains the primary driver of Latin America’s success, accounting for 87.8% of all revenue in the region.
Global Music Industry Sees 10th Consecutive Year of Growth
The worldwide recorded music industry reached US$29.6 billion in total trade revenues for 2024, reflecting a 4.8% year-on-year increase. This marks the tenth consecutive year of growth, driven largely by the expansion of paid subscription streaming.
Subscription revenue saw a 9.5% jump, while the total number of paid streaming users grew by 10.6% to 752 million globally. Streaming revenues exceeded US$20 billion for the first time, now representing 69% of total industry earnings.
“Music continues to be an essential part of people’s lives, and we see exciting potential for further growth through innovation and new technology,” said Victoria Oakley, CEO of IFPI. “While AI offers incredible opportunities, we must ensure it enhances human creativity rather than replaces it.”
Regional Growth Trends: MENA and Sub-Saharan Africa Surge
Every region saw positive revenue growth in 2024, with three posting double-digit gains:
- Middle East & North Africa (MENA) – The fastest-growing region, up 22.8%, with streaming revenues making up 99.5% of the total market.
- Sub-Saharan Africa – Recorded an impressive 22.6% increase, surpassing US$100 million in total revenues for the first time.
- Europe – A steady 8.3% increase, with the UK (+4.9%), Germany (+4.1%), and France (+7.5%) leading the charge.
- USA & Canada – Holding the largest market share (40.3%), revenues grew by 2.1% overall.
- Asia – Grew by a modest 1.3%, impacted by a decline in physical sales, despite China posting a 9.6% increase.
- Australasia – Increased by 6.4%, though Australia fell out of the top ten markets.
AI’s Role in the Future of Music
The report highlights the growing role of artificial intelligence in the industry. Record labels are actively exploring AI’s potential for enhancing artist creativity and fan engagement. However, concerns remain about AI models training on copyrighted music without authorization, threatening artist rights and industry stability.
“We are calling on policymakers to protect music from unauthorized AI use,” Oakley emphasized. “AI should support and amplify human artistry, not replace it.”
The Future of Music in Latin America and Beyond
Latin America’s rapid growth solidifies its place as a key player in the global music market. As streaming continues to evolve and AI reshapes music production and distribution, the industry’s future looks increasingly digital—and global.
With paid streaming driving revenue, and innovation opening new possibilities, the music business is set for another transformative decade.
