The global recorded music market grew by 9.7% in 2018.
According to the IFPI Global Music Report 2019 total streaming revenue grew by 34.0% and accounted for almost half (47%) of global revenue, driven by a 32.9% increase in paid subscription streaming. There were 255 million users of paid streaming services at the end of 2018 accounting for 37% of total recorded music revenue. Growth in streaming more than offset a 10.1% decline in physical revenue and a 21.2% decline in download revenue. Figures in IFPI’s Global Music Report 2019 show total revenues for 2018 were US$19.1 billion.