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The global music streaming industry continues to grow, with revenue rising by *** percent in 2025, compared to the previous year. This increase, while significant, marks a substantial slowdown from the peak of **** percent that revenue had grown year-on-year in 2016. Despite the deceleration, streaming now accounts for over ** percent of total global recorded music revenue, highlighting its dominant position in the industry.

Streaming's financial dominance

Streaming revenues reached an all-time high of ** billion U.S. dollars worldwide in 2025, over eight times the *** billion recorded in 2015. This surge in streaming revenue has reshaped the music landscape, with physical sales declining dramatically. In the United States, streaming now makes up ** percent of music industry revenue, a stark contrast to the mere ** percent generated by physical sales in 2024.

Market leader Spotify

Spotify remains the dominant force in the streaming market, commanding ** percent of global music streaming subscribers. The company's revenue has grown substantially, with premium subscriber revenue exceeding **** billion euros in the fourth quarter of 2025. However, Spotify faces challenges in achieving profitability, as it only recently managed to achieve operating profits. Despite these hurdles, the streaming market continues to expand, with Spotify reaching *** million active users worldwide in the third quarter of 2024, a ** percent increase year-over-year.