Sub-Saharan Africa’s music industry has achieved remarkable growth in 2024, with revenues rising by 22.6% and surpassing US$100 million for the first time. According to the International Federation of the Phonographic Industry (IFPI), this milestone highlights the region’s growing prominence in the global music market.
South Africa remains the largest market in Sub-Saharan Africa, accounting for 75% of the region’s total music revenues, continuing its leadership role as seen in the previous year.
On a global scale, the total recorded music industry revenues reached US$29.6 billion in 2024, a 4.8% increase from the previous year. Subscription streaming played a central role in this growth, with revenues up 9.5%. Global subscription users also grew by 10.6%, reaching 752 million, and streaming services generated over US$20 billion, making up nearly 70% of total recorded music revenues.
Physical music formats saw a decline in 2024, with a 3.1% drop in revenue, though vinyl sales continued to rise, growing by 4.6%, marking the 18th consecutive year of growth for vinyl. Performance rights revenues also grew by 5.9%, reaching US$2.9 billion.
Regions such as the Middle East & North Africa (MENA) and Latin America also experienced significant growth. MENA emerged as the fastest-growing region, with a 22.8% increase in music revenue, driven primarily by streaming. Latin America saw a 22.5% rise, with Brazil and Mexico leading the charge.
Sub-Saharan Africa’s music industry has achieved remarkable growth in 2024, with revenues rising by 22.6% and surpassing US$100 million for the first time. According to the International Federation of the Phonographic Industry (IFPI), this milestone highlights the region’s growing prominence in the global music market.
South Africa remains the largest market in Sub-Saharan Africa, accounting for 75% of the region’s total music revenues, continuing its leadership role as seen in the previous year.
On a global scale, the total recorded music industry revenues reached US$29.6 billion in 2024, a 4.8% increase from the previous year. Subscription streaming played a central role in this growth, with revenues up 9.5%. Global subscription users also grew by 10.6%, reaching 752 million, and streaming services generated over US$20 billion, making up nearly 70% of total recorded music revenues.
Physical music formats saw a decline in 2024, with a 3.1% drop in revenue, though vinyl sales continued to rise, growing by 4.6%, marking the 18th consecutive year of growth for vinyl. Performance rights revenues also grew by 5.9%, reaching US$2.9 billion.
Regions such as the Middle East & North Africa (MENA) and Latin America also experienced significant growth. MENA emerged as the fastest-growing region, with a 22.8% increase in music revenue, driven primarily by streaming. Latin America saw a 22.5% rise, with Brazil and Mexico leading the charge.
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