Blog 6: Music Industry

         

                I found the 2025 IFPI Global Music Report really interesting for many different reasons. One thing that was cool to see was a lot of the artists that I listen to were on the list and gave statistics on how influential their music is worldwide. Another thing I found interesting was all the new trends and developments that we will see in the music industry. I think the future of music is still definitely gonna be heavily driven by the various streaming services. According to the report streaming services accounted fro 69% of the total music industry revenues. There was a huge growth of 9.5% in people signing up for paid subscriptions on different streaming services. I think we will continue to see growth in this area and new developments regarding people trying to create the next big platform regarding music streaming. 

Another thing that stuck out to me in the report was how many new regions and engaging music more and showing significant growth. In the report it stated the fastest growing region was the Middle East and North Africa as growth was up 22.8%, following that was Sub-Saharan Africa +22.8% and Latin America +22.5%. This will definitely play a role in the future of the music industry. This allows for tons of new potential artists arising from these region. Which in return, also provides opportunities for record labels to expand globally to promote music from all parts of the world. I think this will ultimately cause the music industry to grow rapidly and seeing new genres and styles of music. 

The report also mentioned how AI will change the course of the music industry. I think AI will cause many new guidelines to be passed that helps keep artists' music original. I also think that AI could be a huge opportunity for these artist to use it as a tool to create new ideas and new ways to connect with their fan bases. The future of the music industry will be shaped by streaming services, engagement from all over the world, and new developments and creations from Artists using tools like AI to change the music industry forever.