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The latest Global Music Report by the International Federation of the Phonographic Industry (IFPI) shows that recorded music revenues rose 5% to $29.6 billion last year, marking the tenth consecutive year of growth after nearly two decades of decline.
Streaming continued to lead growth, generating $20.4 billion in 2024, while physical music sales saw a slight decline after three years of growth.
Digital music dominated global music revenues last year, with streaming services contributing to nearly 70% of the industry’s total earnings.
According to…
