Weekly Review Highlights
Welcome to the Music Business Worldwide weekly review, where we ensure you catch the five biggest stories that have made headlines over the past week. The MBW review is supported Center, which assists over 500 best-selling artists worldwide in maximizing their income and minimizing their touring expenses.
This week, data regarding recorded musical income for 2024 and various copyright issues dominated the discussion.
From data provided by IFPI, we learned that global recorded musical income is projected to increase by 4.8% year in 2024, with emerging markets and Europe leading while the United States is lagging.
The performance in the US was highlighted by a report from RIAA, which indicated that registered income from music streaming is up by 3.6% year for 2024.
Meanwhile, artists and copyright holders are expressing concerns over a proposal from OpenAI, the creators of ChatGPT, which aims to Reform US Copyright Law to Permit developers to use copyrighted material without permission to train their models. Sir Paul McCartney and Bette Midler are among the celebrities opposing this initiative.
In related news, Mariah Carey achieved a significant legal victory this week when the court ruled in her favor regarding copyright claims on her classic All I Want for Christmas Is You.
And in other courtroom news, Universal Music Group has filed a lawsuit against Drake over Kendrick Lamar‘s track Not Like Us, which UMG dismissed as “completely without merit.”
Here’s what transpired this week…
Streaming Income Updates
1) Recorded income from streaming music increased by only 3.6% year in the United States in 2024 – impacted by a decline in ad revenues
According to new data released by RIAA on Tuesday (March 18), recorded income from music streaming in the United States, the world’s largest music market, grew by just 3.6% year in 2024, reaching $14.88 billion.
With inflation in the U.S. hovering around 3% over the past twelve months, this growth is unlikely to excite industry observers.
The overall performance of streaming income in the U.S. was held back by revenues from ad-supported music services, including YouTube and the ‘freemium’ tier of Spotify.
Combined, these platforms caused a decline in the recorded music industry’s income in the U.S., with a drop of 1.8% year to $1.83 billion.
Significant Legal Developments
2) 11 Fast (and important) takeaways from the Global Music Report IFPI 2025
The IFPI Global Music Report 2025 showcases an expanding music industry grappling with new challenges and opportunities.
It’s important to note that the IFPI figures pertain exclusively to wholesale recorded music income (i.e., revenue paid through labels, distributors, and artists).
The global data reveals several positives for stakeholders (see: streaming subscription income is up nearly 10% year), but there are also some troubling indications (see: advertising-supported streaming is not holding its ground, decline in U.S. performance).
Here are 11 key insights from the report…
The MBW weekly review is backed by Centrip, assisting over 500 best-selling artists worldwide in enhancing their earnings and minimizing touring costs.
