While global music markets struggle to maintain momentum, the European Union has bucked the trend with an impressive 9.1% year-on-year growth in recorded music revenues for 2024, reaching a remarkable €5.7 billion ($6.2 billion). This substantial growth represents the largest absolute increase worldwide, adding approximately €470 million to the region’s music economy and outpacing the combined growth of the United States, China, and Brazil in dollar terms.
The EU’s performance is particularly significant when compared to the global recorded music industry’s overall growth rate of 4.8%, which brought worldwide revenues to $29.6 billion in 2024. Streaming platforms have emerged as the primary catalyst for this expansion, with paid subscription services accounting for 77.4% of the EU’s revenue growth. Price increases implemented by major streaming services, coupled with rising subscription numbers, have allowed the European market to flourish despite relatively slower subscriber adoption compared to the US and UK markets.
Sweden led the European charge with an extraordinary 30.2% year-on-year increase, while emerging markets like Romania (26.9%), Hungary (23.9%), and Poland (22.3%) demonstrated remarkable energy. Germany, one of the EU’s largest markets, contributed significantly by exceeding €1 billion in recorded music sales during the first half of 2025, further cementing the region’s position as a global music powerhouse. The growth is examined in detail in IFPI’s latest EU-focused report titled “Music in the EU 2025: A Growth Engine.”
The EU now represents over a fifth of global recorded music revenues, a reflection of its growing influence in the worldwide music ecosystem. This success comes despite challenges in physical format sales, which continued their decline in alignment with global trends. Record labels throughout the Union have played a pivotal role in this growth by helping artists reach both domestic and international audiences. European artists have increasingly leveraged editorial playlists to gain visibility and cultivate new listeners across streaming platforms. Many musicians have diversified their revenue through sync deals with European film and television productions, creating additional income streams beyond traditional recorded music sales. The strong fan engagement and increasing popularity of homegrown talent have been crucial factors driving the EU’s market success.
As the industry celebrates these results, attention turns to policy concerns surrounding artificial intelligence integration in music production and the continued protection of human creativity, issues that may shape the next chapter in the EU’s music market development.
