MIDiA reports global recorded music revenues rose 9.4% in 2025
A report by MIDiA shows “a good year” for the global recorded music industry, driven partly by the fan economy.
Global recorded music revenues are estimated to have reached $39.5 billion in 2025, according to a report by MIDiA Research. The research and analysis company reports this as a 9.4% increase year-on-year, suggesting a stronger performance than in 2024.
As with all market estimates ahead of official figures, these numbers reflect MIDiA’s analysis of the industry rather than confirmed totals. However, they offer an early indication of how the market has performed over the past year.
A key part of MIDiA’s assessment is the growing role of “expanded rights”. This includes revenue from merchandise, live activity, brand partnerships, and other artist-related income streams. MIDiA estimates that this segment grew by 21.5% in 2025, making it the fastest-growing area of the market.
This had a notable impact on overall growth. As MIDiA states, “2025 represented a milestone for the rise of the fan economy,” with expanded rights and physical formats contributing to total market growth outpacing streaming growth for the first time in the streaming era. When expanded rights are excluded, MIDiA estimates that recorded music revenue growth would have been 7.7% in 2025. While lower than the headline figure, this still represents an improvement on the 4.2% growth reported for 2024.
Streaming continues to account for the majority of recorded music revenues. MIDiA reports that it generated more new income than any other segment in 2025, and that its growth rate increased compared to the previous year. However, other areas, including physical formats and licensing, are growing faster in percentage terms.
Taken together, this suggests that the market is becoming more diversified. While streaming remains central, revenue is increasingly coming from a wider range of sources.
Music Ally notes that additional insights from MusicWatch highlight similar shifts in consumer behaviour, particularly in the United States. The company estimates that there were 148 million music buyers in 2025, including people paying for subscriptions as well as those purchasing physical music and downloads. According to MusicWatch, this is “the fourth consecutive year of buyer growth, and a 61% increase in the recorded music buyer base compared with 10 years ago”.
Looking at regional trends, MIDiA identifies Latin America as the fastest-growing market in 2025. It also highlights differences in how various parts of the industry are performing. Non-major labels, for example, are estimated to have gained market share when expanded rights are included, but lost share when focusing only on traditional recorded music revenues.
Self-releasing artists are also reported to have seen their share of the market decline, despite continued growth in streaming activity. MIDiA attributes this in part to factors such as streaming payout thresholds.
The streaming landscape itself is becoming more complex. MIDiA points to developments such as artist-centric payment models, discovery tools, pricing changes, and new licensing approaches as shaping how revenue is generated and distributed. Overall, MIDiA’s estimates suggest that the recorded music industry continued to grow in 2025, but that growth is now coming from a broader mix of revenue streams rather than being driven by streaming alone.