IFPI Highlights 9.1% Surge in EU Recorded Music Revenues

IFPI, the body representing the recording industry globally, has published its ‘Music in the EU 2025’ report, highlighting significant revenue growth across the region in 2024.

Topline stats:

• The EU market’s share of global recorded music revenues in 2024 was 20.7%.

• It generated €5.7bn in music revenues, second only to the US (€10.4bn).

• The region experienced 9.1% recorded music revenue growth in 2024 (€470m), higher than any other region or market.

• Fan engagement with paid streaming was the main driver of growth in the EU, with 77.4% of its recorded music revenue growth derived from paid subscription streaming (€364m).

• Despite this, the EU’s streaming subscriber penetration rate is much lower than that in the UK and US: 25% vs 46% and 52% respectively.

• Across the EU, an average of 50.9% of tracks in a country’s year-end Top 10 were by domestic artists, with another 7.7% by artists from other EU countries.

What they said:

• Victoria Oakley, CEO: “The EU’s positive music environment is the result of years of investment, hard work, and a passion for developing talent. Record labels are at the heart of this work – investing in new artists, nurturing growth, and showcasing music across Europe and on the global stage. This commitment has created an ecosystem in which both culture and local economies can flourish.”