Trapital
Streaming Growth Slowed Down. What’s Next?
Apr 7, 2025
Mark Mulligan, CEO and founder of MIDiA Research, unpacks the complexities of the 2024 music streaming landscape. He discusses how growth trends vary between major labels and indie artists, especially in emerging markets. The conversation reveals how expanding rights could empower artists and enhance their control. Mulligan also highlights the changing dynamics of independent music, the impact of the pandemic on creativity, and the evolving music publishing scene, especially concerning royalties for indie labels.
32:36
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Quick takeaways
- Despite a slowdown in streaming revenue growth, markets in the global south show significant subscriber growth potential and differing revenue generation challenges.
- The evolving landscape of expanded rights indicates a shift towards a more collaborative relationship between artists and labels, as artists seek additional revenue streams and greater control over their creative outputs.
Deep dives
Growth and Current Landscape of the Global Recorded Music Business
The global recorded music business generated $36.2 billion in 2024, reflecting a 6.5% growth from the previous year. While this growth is solid, it has not reached the highs experienced during the pandemic, indicating a shift in the industry's dynamics. Examining the growth across different regions reveals that while mature markets, particularly in the West, have sustained relatively strong growth, there is a significant surge in subscriber growth from the global south. This paints a picture of a sector evolving with substantial growth potential outside traditional markets, yet facing challenges in revenue generation as the per capita GDP in these regions remains lower.
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