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Why Global Growth Looks Different Locally

The same global growth number can hide mature subscription markets, fast streaming adoption and local format differences across regions.

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  • North America and Europe as mature revenue bases
  • Latin America, Africa and MENA as fast growth regions
  • Asia, Japan, China and format mix
Preview for Why Global Growth Looks Different Locally

Introduction

A global recorded-music growth figure can suggest a single worldwide trend, but the reality underneath is far more varied. When IFPI reports that recorded music revenues increased globally, that growth is often being generated by very different local conditions: mature subscription markets in North America, streaming expansion in Latin America, rapid digital adoption in parts of Africa and the Middle East, and a distinctive mix of physical and digital formats across Asia. In 2025, every major region grew, yet the paths to growth were not the same. Latin America expanded by 17.1%, while the United States and Canada grew by 3.5%; Asia grew 10.9%, aided by Japan’s return to growth and continued expansion in China. [IFPI]ifpi.orgIFPIGLOBAL MUSIC REPORT 2026: GLOBAL RECORDED…18 Mar 2026 — The world's second largest market, Japan, returned to growth in 2025 (.9%)…

Regions illustration 1 Understanding those differences is essential when interpreting IFPI’s measurements. The same global percentage can combine mature markets adding revenue slowly with emerging markets growing rapidly from a smaller base.

Mature Markets Grow Through Value Rather Than New Users

North America: Streaming Is Already Established

North America remains the largest recorded-music region in the world, but its growth profile differs from many emerging markets. Streaming is already deeply embedded in consumer behaviour, leaving less room for dramatic subscriber expansion than in regions where paid streaming is still developing. As a result, growth increasingly comes from factors such as subscription price increases, premium service tiers, catalogue consumption and additional revenue streams rather than simply adding first-time subscribers. [Reuters]reuters.comstreaming boosts global music revenues once again 2025 report shows 2026 03 18Streaming accounted for 70% of global music income, with paid subscription streaming growing 8.8% to reach over 52% of total revenues and…

The United States illustrates this maturity. Paid music subscriptions have surpassed 100 million accounts, and streaming dominates recorded-music revenue. Because adoption is already high, annual growth rates tend to be lower than in developing markets, even when total revenue gains are substantial. [The Verge]theverge.comThe Verge US music subscriptions cross 100 million as digital downloads dropThe increase in revenue, up by $0.5 billion from the previous year, was driven by various services such as paid subscriptions, ad-support…

This is why a region growing at 3–5% can still contribute more absolute revenue than a smaller market growing at 15–20%.

Europe: Growth Built on Scale and Stability

Europe presents a similar but more fragmented picture. Many European markets have established subscription businesses, extensive local music industries and relatively high consumer spending on music. Growth therefore tends to come from steady increases in paid streaming, improved monetisation and strong local repertoires rather than explosive market expansion. [newindustryfocus.com]newindustryfocus.comStreaming drives growth, but low subscriber rates signalIFPI Highlights 9.1% Surge in EU Recorded Music Revenues24 Sept 2025 — IFPI's 2024 report shows EU recorded music revenue hit €5.7bn, a 9…

At the same time, Europe demonstrates that mature markets are not solely dependent on streaming. Vinyl sales have remained resilient, and physical formats continue to contribute meaningful revenue alongside digital services. In countries such as the United Kingdom, growth has been supported by both subscription streaming and renewed interest in physical formats. [The Guardian]theguardian.comThe Guardian UK music sales hit record high as Taylor Swift tops album sellersStreaming subscription revenues rose by 7.8% to over £2bn while physical formats like CDs, vinyl, and cassettes saw a 6.2% increase to £3…

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Why Emerging Regions Are Growing Faster

Latin America: Streaming Expansion Still Has Room to Run

Latin America has become one of the most closely watched music regions because its growth reflects ongoing streaming adoption rather than a fully mature market. IFPI reported that the region grew 17.1% in 2025, making it the fastest-growing major region. Streaming accounted for the overwhelming majority of revenue, showing how digital platforms continue to expand their reach across the region. IFPI [reuters]reuters.comstreaming boosts global music revenues once again 2025 report shows 2026 03 18Streaming accounted for 70% of global music income, with paid subscription streaming growing 8.8% to reach over 52% of total revenues and… Unlike North America, where most potential subscribers already participate in the streaming economy, many Latin American markets are still converting listeners from free services, piracy-era consumption habits or informal channels into paid ecosystems. As broadband access, smartphone ownership and digital payment systems improve, music companies can reach new audiences who were previously difficult to monetise. [LinkedIn]linkedin.comLinkedInGlobal Music Revenues Reach $31.7B, Streaming Drives…More significant data for the recorded music industry was revealed this w…

The result is a growth story driven by market expansion rather than optimisation of an already mature subscriber base.

Africa and MENA: Small Bases, Rapid Momentum

Sub-Saharan Africa and the Middle East and North Africa (MENA) each recorded growth of 15.2% in 2025. These regions remain much smaller than North America or Europe in total revenue, but they are among the fastest-growing parts of the global market. IFPI [reuters]reuters.comstreaming boosts global music revenues once again 2025 report shows 2026 03 18Streaming accounted for 70% of global music income, with paid subscription streaming growing 8.8% to reach over 52% of total revenues and… Several factors help explain this pattern:

  • Expanding smartphone penetration.
  • Increasing mobile internet access.
  • Growth of local streaming services and regional partnerships.
  • Rising international interest in local genres and artists.
  • Improved digital payment infrastructure.

Because these markets are developing from lower revenue bases, relatively modest increases in paid users can produce striking percentage growth rates. This is one reason headline regional growth figures should always be considered alongside market size. [IFPI]ifpi.orgGMR2026 SOTIGLOBAL MUSIC REPORTAt a market level, 57 of the 58 markets measured recorded revenue growth in 2025…. The world's second largest marke…

Regions illustration 2

Asia Shows Why Format Mix Matters

Japan: A Different Path to Revenue

Japan demonstrates that music growth does not always follow the same digital-first pattern seen elsewhere. The country remains the world’s second-largest recorded-music market and has historically maintained a stronger physical music culture than most Western territories. CDs and collectible products continue to play an important role in fan engagement and revenue generation. Soundcharts

When Japan returned to growth in 2025, the story was not simply about adding streaming subscribers. It reflected a market where physical products, fan culture and digital services coexist in a way that differs markedly from North America or Latin America. [IFPI]ifpi.orgGMR2025 SOTIGLOBAL MUSIC REPORT 202519 Mar 2025 — Subscription streaming revenues accounted for over 50% of global recorded music revenues in. 2024 s…

This makes Japan an important reminder that similar revenue outcomes can emerge from very different consumer behaviours.

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China: Digital Scale at Extraordinary Speed

China represents almost the opposite model. Its growth has been driven primarily by large-scale digital adoption and rapid development of licensed streaming ecosystems. In 2025, Chinese recorded-music revenues grew by 20.1%, making it the fastest-growing market among the world’s top twenty and elevating China to the fourth-largest recorded-music market globally. [IFPI]gmr.ifpi.orgabout reportmusic report 2026: premium editionGLOBAL MUSIC REPORT 2026: PREMIUM EDITION. The definitive source of recorded music market data, launche… [Music Business Worldwide]musicbusinessworldwide.com10 quick and crucial takeaways from ifpis global music report 2026Music Business WorldwideIFPI's Global Music Report 2026: 10 quick (and crucial)…18 Mar 2026 — According to IFPI data, as of 2025, the…

China’s expansion illustrates how a market can move from relatively low monetisation levels to major global significance within a comparatively short period. The combination of large audiences, digital platforms and growing willingness to pay for music has reshaped the global market map. [Music Business Worldwide]musicbusinessworldwide.com10 quick and crucial takeaways from ifpis global music report 2026Music Business WorldwideIFPI's Global Music Report 2026: 10 quick (and crucial)…18 Mar 2026 — According to IFPI data, as of 2025, the…

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Asia’s Physical-Digital Balance

Asia as a whole remains distinctive because it combines high-growth streaming markets with some of the world’s strongest physical-music territories. IFPI reported that Asia accounted for 45.1% of global physical revenues in 2025 while also delivering double-digit overall growth. [IFPI]gmr.ifpi.orgGMR 2026 ContentsGlobal Music Report - IFPIAnalysis by Region: Latin America. 130. Analysis by Region: Australasia. 134. Analysis by Region: Middle East &…

That combination makes the region difficult to describe with a single narrative. In some countries, growth resembles the streaming-led development seen in Latin America. In others, physical sales remain a major revenue source. The same regional growth figure therefore reflects several different business models operating simultaneously.

Regions illustration 3

What Regional Differences Mean for Interpreting IFPI Growth

The key lesson from IFPI’s regional data is that growth percentages alone do not explain how the music industry is evolving. A 3% increase in a mature market may reflect billions of dollars in additional revenue, while a 15% increase in a developing market may signal rapid adoption from a much smaller starting point. [IFPI]ifpi.orgIFPIGLOBAL MUSIC REPORT 2026: GLOBAL RECORDED…18 Mar 2026 — The world's second largest market, Japan, returned to growth in 2025 (.9%)…

Regional comparisons therefore reveal more than which markets are growing fastest. They show where streaming is still expanding, where subscription businesses have matured, where physical formats remain influential and where entirely new audiences are entering the recorded-music economy. The global growth figure measures the industry’s overall progress, but the regional breakdown explains the very different stories that created it. [IFPI]ifpi.orgGMR2026 SOTIGLOBAL MUSIC REPORTAt a market level, 57 of the 58 markets measured recorded revenue growth in 2025…. The world's second largest marke… [IFPI]ifpi.orgGMR2025 SOTIGLOBAL MUSIC REPORT 202519 Mar 2025 — Subscription streaming revenues accounted for over 50% of global recorded music revenues in. 2024 s…

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Endnotes

  1. Source: ifpi.org
    Link: https://www.ifpi.org/global-music-report-2026-global-recorded-music-revenues-grow-6-4-as-record-companies-drive-innovation/
    Source snippet

    IFPIGLOBAL MUSIC REPORT 2026: GLOBAL RECORDED...18 Mar 2026 — The world's second largest market, Japan, returned to growth in 2025 (.9%)...

  2. Source: reuters.com
    Title: streaming boosts global music revenues once again 2025 report shows 2026 03 18
    Link: https://www.reuters.com/business/media-telecom/streaming-boosts-global-music-revenues-once-again-2025-report-shows-2026-03-18/
    Source snippet

    Streaming accounted for 70% of global music income, with paid subscription streaming growing 8.8% to reach over 52% of total revenues and...

  3. Source: newindustryfocus.com
    Title: Streaming drives growth, but low subscriber rates signal
    Link: https://newindustryfocus.com/articles/ifpi-highlights-9-1-surge-in-eu-recorded-music-revenues
    Source snippet

    IFPI Highlights 9.1% Surge in EU Recorded Music Revenues24 Sept 2025 — IFPI's 2024 report shows EU recorded music revenue hit €5.7bn, a 9...

  4. Source: linkedin.com
    Link: https://www.linkedin.com/posts/dimastreaming_global-music-report-2026-global-recorded-activity-7440770290479038464-4Dg3
    Source snippet

    LinkedInGlobal Music Revenues Reach $31.7B, Streaming Drives...More significant data for the recorded music industry was revealed this w...

  5. Source: soundcharts.com
    Title: Explore its key players, CD culture, streaming challenges, and the idol
    Link: https://soundcharts.com/en/blog/japan-music-market-overview
    Source snippet

    SoundchartsMusic Market Focus: Japan [Latest Stats, Trends, & Analysis]Mar 9, 2026 — Japan is the second-largest music market globally at...

  6. Source: ifpi.org
    Title: GMR2026 SOTI
    Link: https://www.ifpi.org/wp-content/uploads/2026/03/GMR2026_SOTI.pdf
    Source snippet

    GLOBAL MUSIC REPORTAt a market level, 57 of the 58 markets measured [recorded revenue]({{ 'artist-income/' | relative_url }}) growth in 2025.... The world's second largest marke...

  7. Source: ifpi.org
    Title: GMR2025 SOTI
    Link: https://www.ifpi.org/wp-content/uploads/2024/03/GMR2025_SOTI.pdf
    Source snippet

    GLOBAL MUSIC REPORT 202519 Mar 2025 — Subscription streaming revenues accounted for over 50% of global recorded music revenues in. 2024 s...

  8. Source: gmr.ifpi.org
    Title: about report
    Link: https://gmr.ifpi.org/about-report
    Source snippet

    music report 2026: premium editionGLOBAL MUSIC REPORT 2026: PREMIUM EDITION. The definitive source of recorded music market data, launche...

  9. Source: gmr.ifpi.org
    Title: GMR 2026 Contents
    Link: https://gmr.ifpi.org/downloads/GMR%202026_Contents.pdf
    Source snippet

    Global Music Report - IFPIAnalysis by Region: Latin America. 130. Analysis by Region: Australasia. 134. Analysis by Region: Middle East &...

  10. Source: linkedin.com
    Link: https://www.linkedin.com/posts/dimastreaming_2025-year-end-music-industry-revenue-report-activity-7439423050930053120-oHck
    Source snippet

    US Music Revenue Hits Record $11.54B, Streaming...The global recorded music industry reached $31.7 billion in 2025, reflecting a year-on...

  11. Source: linkedin.com
    Link: https://www.linkedin.com/posts/music-canada_according-to-ifpisglobal-music-report-2026-activity-7440035181765398528-x2Hv
    Source snippet

    Music Canada's PostAccording to IFPI's Global Music Report 2026 released today, Canada's recorded music market grew by 5.6% in 2025 to re...

  12. Source: linkedin.com
    Title: dhanesh jagwani musicinsights activity 7440272400476434432 BHLQ
    Link: https://www.linkedin.com/posts/dhanesh-jagwani_musicinsights-activity-7440272400476434432-BHLQ
    Source snippet

    IFPI Global Music Report 2026: Record Music Revenues...IFPI's Global Music Report 2026 provides the official data on recorded music reve...

  13. Source: linkedin.com
    Link: https://www.linkedin.com/posts/wearekinda_global-music-report-2026-global-recorded-activity-7440084091422564352-calm
    Source snippet

    GLOBAL RECORDED MUSIC REVENUES GROW 6.4%...IFPI Report Reveals Nearly $32 Billion in 2025 Global Recorded Music Revenue — China... Worl...

  14. Source: linkedin.com
    Link: https://www.linkedin.com/posts/michaelgalbe_ifpi-global-report-2026-recorded-music-revenues-activity-7440044454742306816-OOl8
    Source snippet

    Latin America Drives Global Recorded Music Revenue...According to figures released in IFPI's Global Music Report 2026, global recorded m...

  15. Source: theverge.com
    Title: The Verge US music subscriptions cross 100 million as digital downloads drop
    Link: https://www.theverge.com/news/632045/riaa-music-streaming-revenue-100-million-subscriptions
    Source snippet

    The increase in revenue, up by $0.5 billion from the previous year, was driven by various services such as paid subscriptions, ad-support...

  16. Source: theguardian.com
    Title: The Guardian UK music sales hit record high as Taylor Swift tops album sellers
    Link: https://www.theguardian.com/business/2025/jan/08/uk-music-sales-hit-record-high-as-taylor-swift-tops-album-sellers
    Source snippet

    Streaming subscription revenues rose by 7.8% to over £2bn while physical formats like CDs, vinyl, and cassettes saw a 6.2% increase to £3...

  17. Source: musicbusinessworldwide.com
    Title: 10 quick and crucial takeaways from ifpis global music report 2026
    Link: https://www.musicbusinessworldwide.com/10-quick-and-crucial-takeaways-from-ifpis-global-music-report-2026/
    Source snippet

    Music Business WorldwideIFPI's Global Music Report 2026: 10 quick (and crucial)...18 Mar 2026 — According to [IFPI data]({{ 'ifpi-data/' | relative_url }}), as of 2025, the...

  18. Source: musicbusinessworldwide.com
    Link: https://www.musicbusinessworldwide.com/as-recorded-music-revenues-hit-31-7b-globally-ifpi-ceo-victoria-oakley-explains-the-opportunities-and-the-threats-ahead/
    Source snippet

    As recorded music revenues hit $31.7B globally, IFPI CEO...20 Mar 2026 — Worldwide recorded music revenues reached USD $31.7 billion in...

Additional References

  1. Source: omdia.tech.informa.com
    Link: https://omdia.tech.informa.com/om145126/eleven-consecutive-years-of-global-recordedmusic-growth-with-gains-in-asia-boosting-the-growth-rate
    Source snippet

    consecutive years of global recorded-music growth...4 days ago — Latin America registered the highest growth rate of the seven regions d...

  2. Source: citizen.digital
    Link: https://citizen.digital/article/ifpi-global-report-2026-recorded-music-revenues-surpass-ksh4-trillion-mark-for-first-time-n379371
    Source snippet

    IFPI Global Report 2026: Recorded music revenues...20 Mar 2026 — Figures released today (March 18) in IFPI's Global Music Report 2026 sh...

  3. Source: facebook.com
    Title: latin america continued its remarkable upward trajectory marking its 16th consec
    Link: https://www.facebook.com/worldmusicviews/videos/latin-america-continued-its-remarkable-upward-trajectory-marking-its-16th-consec/1598474771382113/
    Source snippet

    Latin America continued its remarkable upward trajectory...The IFPI Global Music Report 2026 highlights strong global momentum in record...

  4. Source: facebook.com
    Title: the ifpi global report 2026 released this week highlights include vinyl outpacin
    Link: https://www.facebook.com/Billboard/posts/the-ifpi-global-report-2026-released-this-week-highlights-include-vinyl-outpacin/1304943581506217/
    Source snippet

    Highlights...➡ China, which today ranks #5 largest recorded music markets in front of France, is expected to surpass Germany by 2026, th...

  5. Source: facebook.com
    Title: in the ifpis annual global music report covering the music industry 2025 global
    Link: https://www.facebook.com/Billboard/posts/in-the-ifpis-annual-global-music-report-covering-the-music-industry-2025-global-/1302327805101128/
    Source snippet

    In the IFPI's annual Global Music Report covering...IFPI Global Report 2025: Music Revenues Up 5% to $29.6 Billion Amid AI Copyright Con...

  6. Source: variety.com
    Title: global record revenues grow to 31 7 billion ifpi 2025 1236692531
    Link: https://variety.com/2026/music/news/global-record-revenues-grow-to-31-7-billion-ifpi-2025-1236692531/
    Source snippet

    IFPI: Global Record Revenues Grew to $31.7 Billion in 2025Mar 18, 2026 — Global record revenues grew to $31.7 billion in 2025 for an 11th...

  7. Source: diymusician.cdbaby.com
    Link: https://diymusician.cdbaby.com/music-news/ifpi-global-music-report-2026/
    Source snippet

    DIY Musician5 key takeaways from the IFPI Global Music Report 2026Mar 30, 2026 — Latin North America was the fastest growing region at 17...

  8. Source: musicinafrica.net
    Title: sub saharan africa music revenues rise 15 120m ifpi
    Link: https://www.musicinafrica.net/magazine/sub-saharan-africa-music-revenues-rise-15-120m-ifpi
    Source snippet

    Sub-Saharan Africa music revenues rise 15% to $120MMar 18, 2026 — Recorded music revenues in Sub-Saharan Africa rose by 15.2% in 2025, re...

  9. Source: worldmusicviews.com
    Link: https://worldmusicviews.com/latin-america-leads-global-music-growth-with-record-breaking-17-1-surge-in-2025/
    Source snippet

    (IFPI) Global Music Report 2026, the region grew by 17.1% in 2025...Read more...

  10. Source: riaa.com
    Title: 2025 year end music industry revenue report riaa
    Link: https://www.riaa.com/reports/2025-year-end-music-industry-revenue-report-riaa/
    Source snippet

    2025 Year-End Music Industry Revenue ReportThe RIAA released its 2025 Year-End Recorded Music Revenue Report, which reported that US whol...

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