GMR
ISRCIndustry
Data
Engagement with streaming drives growth of the global music market
Global growth by region 2023
$28.6bn
the total value
of the recording
industry in 2023
+11.2%
growth in subscription
streaming revenues in 2023
67.3%
of global industry
revenue comes from
streaming
$7.1bn
is invested in A&R and
marketing by record
labels annually
*Revenue amounts shown in US dollars
Global recorded music revenues by segment 2023
In 2023, global recorded music revenues grew by 10.2%. This was the ninth consecutive year of global growth. Revenues increased in every region.
Digital revenues have increased steadily over the past few years and streaming continued to be the dominant format globally, accounting for 67.3% of global recorded music revenues after increasing by 10.4% in 2023. By the end of that year, there were 667 million users of paid subscription accounts globally.
