IFPI: Recorded music revenues in Sub-Saharan Africa grew by 22.6% in 2024

This is by far compared to IFPI’s 2023 and 2024 reports where global recorded music revenues grew by 9.0% and 10.2%, respectively.

Commenting on the development, IFPI regional director for Sub-Saharan Africa, Angela Ndambuki, said “the continued growth in recorded music revenues in Sub-Saharan Africa is a clear testament to the strategic actions the record companies undertake to create opportunities in the region not only for artists but also for fans of recorded music.”

Ndambuki highlighted the region’s significant growth in digital revenues, particularly through subscription streaming, over recent years.

“Without a doubt, technology is an important driver of this success and, therefore, it is crucial for the region to prioritise the improvement in national policies and regulatory environments so as to attract further investment in the wider recorded music business.”

Figures released in IFPI’s Global Music Report 2025 also revealed that total global recorded music revenues had grown for the tenth consecutive year, reaching US$29.6 billion in 2024, an increase of 4.8%.

IFPI said the sustained growth of the global market had been driven by record companies’ long-term investments in artists’ careers, as well as the development and licensing of innovative ways for fans to engage with music. Every region experienced revenue growth in 2024, demonstrating the industry’s resilience and expansion.

IFPI CEO Victoria Oakley said the global industry’s continued growth shows the role played by music in people’s lives. She expressed optimism about future opportunities for the industry. “What is so exciting is that there is still great potential for further development, through innovation, emerging technologies, and investment in both artists and the evolving parts of the growing global music ecosystem.”

Oakley also credited the dedication and creativity of artists, songwriters, and record companies for the industry’s success. “These positive developments don’t happen by accident. They reflect the brilliant creativity, vision and hard work of artists and songwriters around the globe, powered in part by the work, investment and passion of record companies and their teams. In the case of record labels, returning revenues enable them to be patient, long-term, consistent investors in artists, innovation and culture.”

One key issue highlighted in the report was the role of artificial intelligence in music. Oakley acknowledged record companies had embraced AI’s potential to enhance artist creativity and fan experiences. However, she warned of the risks posed by generative AI systems using copyright-protected music without authorisation from rightsholders.

She called on policymakers to take action. “We are asking policymakers to protect music and artistry. We must harness the potential of AI to support and amplify human creativity, not to replace it.”

Regional growth in the global music industry

The Global Music Report 2025 also detailed revenue growth across different regions worldwide:

• USA & Canada (+2.1%): Representing 40.3% of global recorded music revenues, the USA and Canada saw a revenue increase of 2.1% in 2024. The USA, the world’s largest recorded music market, grew by 2.2%, while Canada, the eighth largest market, experienced 1.5% growth. However, the 2023 figure for Canada had included a one-off payment in performance rights revenues.
• Europe (+8.3%): Accounting for 29.5% of global revenues, Europe remained the second-largest recorded music market, with revenues increasing by 8.3% in 2024. The region’s three largest markets all posted growth: the UK (+4.9%), Germany (+4.1%), and France (+7.5%). Europe contributed more revenue growth than any other region.
• Asia (+1.3%): Asia, the third-largest region globally, saw revenues rise by 1.3% in 2024. This followed a strong performance in 2023, when revenues had grown by 14.4%. The region remained the largest physical market, accounting for 45.1% of global physical music revenues. However, a 4.9% decline in physical sales impacted overall growth. Japan, the world’s second-largest market, remained flat (-0.2%), while China, ranked fifth globally, recorded a 9.6% increase in revenues.
• Latin America (+22.5%): Latin America recorded significant revenue growth of 22.5% in 2024, marking its fifteenth consecutive year of growth and once again surpassing the global growth rate. Streaming remained the primary revenue driver, accounting for 87.8% of the region’s total recorded music revenues. Brazil saw a 21.7% increase, making it the fastest-growing market among the global top ten, while Mexico’s revenues grew by 15.6%, allowing it to enter the top ten global recorded music markets for the first time.
• Australasia (+6.4%): Recorded music revenues in Australasia reached US$629 million, growing by 6.4% in 2024. Australia increased its revenues by 6.1% but dropped out of the top ten global markets, being replaced by Mexico. New Zealand recorded a 7.8% increase in revenues.
• Middle East & North Africa (MENA) (+22.8%): MENA was the fastest-growing region globally, with recorded music revenues rising by 22.8% in 2024. The market remained dominated by streaming, which accounted for 99.5% of total revenues.

The Global Music Report 2025 painted a positive picture for the future of recorded music worldwide, with each region showing continued expansion and adaptation to new technological and market trends.

Access IFPI’s 2025 Global Music Report here.