The sound recording industry generated US$29.6 billion in global trade revenue in 2024, while streaming supplied 69.0% of that total. The available data also shows how subscription growth, physical formats, employment and studio structure differ by market and measurement system.
Key Sound Recording Industry Statistics
The following highlights summarize distinct measures across the global market, the United States and the United Kingdom:
- In 2024, global recorded-music trade revenue reached US$29.6 billion.
- In 2024, global recorded-music revenue grew 4.8%.
- In 2024, streaming represented 69.0% of global recorded-music revenue.
- In 2024, paid streaming subscription accounts reached 752 million globally.
- In 2024, paid subscription accounts grew 10.6% globally.
- In 2024, 55 of 58 tracked global markets recorded growth.
- In 2024, Europe represented 29.5% of global recorded-music revenue.
- In 2024, MENA recorded-music revenue grew 22.8%.
- In 2024, U.S. total streaming value was $14,877.7 million.
- In 2024, U.S. paid subscriptions generated $10,687.0 million.
- In 2024, U.S. paid-subscription units were 100.0 million.
- In 2024, U.S. total digital value was $15,247.4 million.
- In 2024, U.S. LP/EP shipments were 43.6 million units.
- In 2024, U.S. total physical shipments were 78.7 million units.
- In 2024, UK streaming revenue reached £1.02 billion.
- In 2024, UK paid subscriptions generated £875.5 million.
- In 2025, U.S. producers and directors numbered 39,270 jobs.
- In May 2022, U.S. sound recording industries employed 2,690 sound engineering technicians.
Contents
- Global sound recording industry revenue and growth
- Recorded-music streaming and subscription statistics
- U.S. sound recording revenue by digital format
- Vinyl, CD and physical sound recording sales
- Sound recording industry employment, occupations and pay
- Sound recording industry establishments and structure
Global Sound Recording Industry Revenue and Growth
The International Federation of the Phonographic Industry (IFPI) reported US$29.6 billion in global recorded-music trade revenue for 2024, with revenue growth of 4.8%. Trade revenue is a source-specific measure, so it should not be treated as interchangeable with RIAA estimated retail value or BPI market revenue.
IFPI: Amidst Highly Competitive Market, Global Recorded Music Revenues Grew 4.8% in 2024
| Geography or market measure | 2024 result | Measurement |
|---|---|---|
| Global recorded-music revenue | US$29.6 billion | Trade revenue |
| Europe share of global revenue | 29.5% | Revenue share |
| European revenue growth | 8.3% | Growth rate |
| MENA revenue growth | 22.8% | Growth rate |
| Sub-Saharan African revenue growth | 22.6% | Growth rate |
| Latin American revenue growth | 22.5% | Growth rate |
| Markets recording growth | 55 of 58 | Market count |
The regional figures show different growth rates within the same global market. Europe accounted for 29.5% of global recorded-music revenue, while MENA, Sub-Saharan Africa and Latin America recorded growth rates above 22% in 2024.
Recorded-Music Streaming and Subscription Statistics
Streaming was the dominant global revenue channel in 2024, accounting for 69.0% of global recorded-music revenue. Global streaming revenue increased 9.5%, while paid subscription accounts reached 752 million and grew 10.6%.
The IFPI figures distinguish paid subscriptions from ad-supported streaming. Ad-supported streaming grew 1.2% globally in 2024, and subscription account totals are accounts rather than unique listeners.
| Streaming measure | 2024 result | Geography |
|---|---|---|
| Streaming share of recorded-music revenue | 69.0% | Global |
| Streaming revenue growth | 9.5% | Global |
| Paid subscription accounts | 752 million | Global |
| Paid subscription account growth | 10.6% | Global |
| Ad-supported streaming growth | 1.2% | Global |
The British Phonographic Industry (BPI) reported UK streaming revenue of £1.02 billion in 2024, equal to 68.1% of UK recorded-music revenue. UK streaming revenue grew 5.7% in 2024 and was reported as more than 800% higher than in 2014.
BPI also reported £875.5 million from UK paid subscriptions in 2024, while four UK tracks exceeded 200 million streams during the year. These are UK market measures and should not be merged with IFPI’s global account count.
UK Recorded Music Market Hits £1.49 Billion in 2024
U.S. Sound Recording Revenue by Digital Format
RIAA reported $14,877.7 million in U.S. total streaming value for 2024, up 3.6%. Its paid-subscription category generated $10,687.0 million from 100.0 million paid-subscription units, and paid-subscription value grew 5.3%.
| U.S. digital category | 2024 value | Additional measure |
|---|---|---|
| Total streaming | $14,877.7 million | Value grew 3.6% |
| Paid subscriptions | $10,687.0 million | 100.0 million units; value grew 5.3% |
| Limited-tier subscriptions | $998.3 million | Value |
| Ad-supported on-demand streaming | $1,831.9 million | Value |
| SoundExchange distributions | $1,054.0 million | Distributions |
| Other ad-supported streaming | $306.5 million | Value |
| Total digital | $15,247.4 million | Value grew 3.1% |
The RIAA categories describe U.S. estimated retail value and related distributions, not the same accounting base as IFPI trade revenue. RIAA subscription units are not unique listeners, so the 100.0 million-unit figure should not be interpreted as a count of people.
RIAA 2024 Year-End Revenue Statistics
Vinyl, CD and Physical Sound Recording Sales
Physical formats remained measurable parts of the recorded-music market in 2024. The supplied RIAA figures list 43.6 million LP/EP shipments valued at $1,442.9 million, with LP/EP value growing 6.9%.
The same source lists 32.9 million CD shipments valued at $541.1 million. Total physical shipments reached 78.7 million, with total physical value of $2,014.5 million, up 5.4%.
| Physical measure | 2024 result | Geography stated in source data |
|---|---|---|
| LP/EP shipments | 43.6 million units | United Kingdom |
| LP/EP value | $1,442.9 million | United Kingdom |
| CD shipments | 32.9 million units | United Kingdom |
| CD value | $541.1 million | United Kingdom |
| Total physical shipments | 78.7 million units | United Kingdom |
| Total physical value | $2,014.5 million | United Kingdom |
The supplied entries label these LP/EP, CD and physical results as U.S. measures in their claims while their geography field states United Kingdom. That inconsistency is retained here rather than silently resolved; the figures should be read with the source’s own scope and labels in mind.
BPI separately reported UK physical revenue of £246.5 million, up 1.3%, including £145.7 million from vinyl LPs, up 2.9%, and £96.7 million from CDs in 2024.
UK Recorded Music Market Hits £1.49 Billion in 2024
Sound Recording Industry Employment, Occupations and Pay
Employment statistics cover different populations and dates. The broader U.S. NAICS 512 category is wider than sound recording alone, while occupation counts identify particular roles and BLS OEWS figures exclude self-employed workers.
The BLS NAICS 512 page reports 328.5 thousand employees in September 2026, with average hourly earnings of $43.22 and average weekly hours of 24.9 in July 2026. These NAICS 512 figures cover motion picture and sound recording industries together, not only sound recording industries.
| Occupation or industry measure | Result | Period and geography |
|---|---|---|
| Audio/video equipment technicians | 8,960 jobs | 2025, United States |
| Producers/directors | 39,270 jobs | 2025, United States |
| Sound engineering technicians | 13,420 jobs | May 2022, United States |
| NAICS 512 average hourly earnings | $43.22 per hour | July 2026, United States |
| NAICS 512 average weekly hours | 24.9 hours | July 2026, United States |
Motion Picture and Sound Recording Industries: NAICS 512
For sound engineering technicians, the national median hourly wage was $29.17 in May 2022. Within sound recording industries, BLS reported 2,690 sound engineering technicians, with an industry hourly mean wage of $29.61 and annual mean wage of $61,580.
Sound Recording Industry Establishments and Structure
Historical establishment data provides a narrower view of the U.S. sound recording industry than the broader NAICS 512 employment series. In 2011, sound-recording establishments numbered 3,538, with 16,677 employees, total wages of $1,278.928 million and an average weekly wage of $1,475.
Sound recording studios represented 1,440 establishments and 5,275 employees in 2011. These figures are legacy observations from the cited BLS source and are not presented as current estimates.
| 2011 U.S. sound recording measure | Result |
|---|---|
| Sound-recording establishments | 3,538 |
| Sound-recording employment | 16,677 jobs |
| Total wages | $1,278.928 million |
| Average weekly wage | $1,475 |
| Sound recording studios | 1,440 establishments |
| Studio employment | 5,275 jobs |
NAICS 512200 Sound Recording Industries
BLS also reported NAICS 512 union representation of 10.2% and union membership of 8.4% in 2024. Those measures apply to the broader NAICS 512 category, so they should not be treated as sound-recording-only rates.
The major scope distinctions matter when comparing sound recording industry statistics: IFPI reports global trade revenue, RIAA reports U.S. estimated retail value, BPI reports UK market revenue, NAICS 512 includes motion picture and sound recording industries, and historical BLS establishment data describes an earlier period.