The global music industry just crossed a symbolic threshold.
Worldwide recorded music revenues reached USD $31.7 billion in 2025, surpassing $30 billion for the first time and marking the industry’s eleventh consecutive year of growth.
That figure, revealed within the IFPI‘s Global Music Report 2026, is more than double the industry’s nadir of $13.1 billion in 2014.
The new GMR report (which you can access through here) showed that global growth accelerated, too: the global industry expanded by 6.4% YoY in 2025, up from the 4.7% rate posted in 2024, adding USD $1.9 billion in a single year.
Speaking to MBW directly after the report’s launch on Wednesday (March 18), IFPI CEO Victoria Oakley is in a buoyant mood.
“Growth in our industry is obviously good for us, but good for artists, good for fans, good for consumers,” she says. “It was really nice to be able to announce good news.”
That good news included recorded music growth in every region, with four posting double-digit gains.
Paid subscription streaming saw revenues climb8.8% YoY, accounting for more than half of global revenues for the first time, while the number of users of paid subscription accounts worldwide rose to 837 million – inching ever closer to 1 billion.
The report’s geographic picture was equally striking. China, a market that has proven music fans are willing to pay for higher-priced premium subscription tiers (see Tencent Music’s 20m ‘Super VIP’ subs), leapfrogged Germany to become the world’s fourth-largest recorded music market, growing 20.1% YoY.
“More consumers are choosing to come to music [in China],” says Oakley, “and more of those consumers are paying more in multiple different ways.”
Latin America was the fastest-growing region overall at 17.1% YoY — its 16th consecutive year of growth — with Brazil climbing to No.8 and Mexico was the No.10 largest global market after overtaking Italy and Australia in 2025. “Latin America is growing really strongly,” says Oakley, pointing to artists like Bad Bunny and Rosalía as evidence that “you don’t have to sing in English” to top global charts.
Physical formats, meanwhile, staged a rebound, growing8.0% YoY globally, buoyed by a return to form for physical sales in Japan.
The full version of the Global Music Report Premium Edition 2026, which can be purchased here, digs deeper into each of these trends – with market-by-market revenue breakdowns, format-level data, and regional analysis covering more than 70 countries. (IFPI tells us that discounted access to the report and dataset is available for academic and non-profit organizations, as well as record labels, publishers, and distributors).
Outside of the high-growth emerging markets, the United States – the world’s single-largest recorded music market – grew just 3.3% YoY, an improvement on 2024, but evidence of the world’s most established streaming market’s maturity compared to the double-digit gains being posted elsewhere.
Oakley, though, is unfazed: “Anything that starts with a 3 is still a number that a lot of sectors would be envious of,” she tells MBW.
“I’m not worried about the US market,” she adds, pointing to global interest in Country Music and the success over the past 12 months of US artists like Taylor Swift, the world’s biggest-selling recording artist for a record sixth time.
“Growth in our industry is obviously good for us, but good for artists, good for fans, good for consumers.”
Victoria Oakley, IFPI
IFPI’s CEO joined the organization in June 2024 from strategic communications consultancy Portland, bringing nearly two decades in the British Diplomatic Service – including stints in Washington D.C., Brussels, and the Eastern Caribbean, where she served as High Commissioner – followed by a period as Google‘s Global Public Policy Director.
It’s a background that maps neatly onto the challenges, political, legal, and operational, facing the industry right now.
In our interview below, Oakley is candid about two threats she sees as defining challenges for the next chapter of the music business: streaming fraud, which she describes as “really lazy fraud” that is “really fixable” – and AI policy, where she warns that text and data mining exceptions risk undermining the licensing deals the industry is actively striking.
“I need governments to listen to us and to see that we are doing this,” she says. “What we really don’t want to see is legislation that pulls completely in the other direction.”
Here, Oakley discusses the IFPI’s 2025 global revenue figures, the markets driving growth, and why she sees “plenty of room” for the industry to keep climbing…
Photo Credit: ElenaR/Shutterstock
THIS IS THE $30 BILLION MILESTONE. HOW SIGNIFICANT IS THAT, PSYCHOLOGICALLY, FOR THE INDUSTRY?
I think it’s significant. If you look at that curved graph of where we were before streaming, and how we’ve had to build back up since, it’s really healthy to see that we’re now in our fifth peak.
I don’t think it changes how we talk to policymakers at all. We’ve always been an industry that is more present in people’s minds and perhaps has more clout than perhaps a $30 billion [industry normally would].
GROWTH ACCELERATED FROM 4.7% TO 6.4%. WHAT WERE THE BIGGEST FACTORS?
The biggest driver continues to be the increase in paid subscription streaming – more users, more people signing up, price increases, and also some of that interesting stuff you’re seeing in the tiers that certain platforms are offering.
“The biggest driver continues to be the increase in paid subscription streaming – more users, more people signing up, price increases, and also some of that interesting stuff you’re seeing in the tiers that certain platforms are offering.”
The other thing that’s driven the growth is this rebound of physical, which I find so fascinating. Vinyl is in its 19th year of consecutive growth. It’s no surprise that people still buy records. But what’s more surprising is the other physical formats. I was talking to friends about this at the weekend and saying, “Does anybody buy CDs anymore?” And yes, they do.
That has significantly come from the fact that the Asian markets – Japan and South Korea in particular – returned to growth in 2025 with strong K-Pop and J-Pop releases in the year, which is what’s driven that bump in physical.
HOW MUCH FURTHER CAN PAID STREAMING PENETRATION GROW GLOBALLY?
I think the room for growth is very clear. If this is increasingly consumers’ route of choice for listening to music, and if the platforms are continuing to innovate – whether that’s tiers, superfan engagement, or additional [services] – I see plenty of room for growth. More people are becoming subscribers, more people are paying more for different services within their subscription.
“People are paying for sport. People are starting to pay for TV. I’d like to see music as the next one in that step.”
India is the classic example. I was there recently, and it feels like lots of people are on one, if not two, streaming devices a lot of the time – and most of that is coming through the free tier. There’s lots of evidence [of paid conversion] being done successfully by other streaming services [for] TV, video on demand, and most famously, with cricket.
People are paying for sport. People are starting to pay for TV. I’d like to see music as the next one in that step.
CHINA OVERTOOK GERMANY TO BECOME THE FOURTH-LARGEST MARKET, GROWING 20.1%. WHAT’S DRIVING THAT?
China has its own impressive talent and repertoire, more and more of whom are coming to the fore. There are a number of platforms, many of which have increased their prices and are offering tiered, super-premium [services]. So you are seeing more consumers choosing to come to music, and more of those consumers paying more in multiple different ways.
One interesting differentiator between China and the next one up – the UK – is revenue from public performance and broadcast rights. Although these rights have been enshrined in Chinese law for a while, operationalizing it has proven quite tricky.
But there may come a time when China’s ability to fully make those collections kicks in, and coupled with continued growth, I think that could be really stellar.
LATIN AMERICA WAS THE FASTEST-GROWING REGION AT 17.1%. WHAT OPPORTUNITIES ARE YOU SEEING?
Latin America is growing really strongly. Brazil up to number eight, Mexico into the Top 10.
Latin music has been one of the huge beneficiaries of this democratization that’s come from streaming. People all over the world can be reached by Latin music, and it’s eminently accessible. A lot of people speak Spanish.
Credit: PressBad Bunny
But what you’ve also got is the Rosalía phenomenon: you don’t have to sing in English [to be a global superstar]. Bad Bunny (pictured) wins the Grammy for Album of the Year for an album entirely in Spanish. I think there’s a really exciting period ahead for Latin America.
NORTH AMERICA GREW 3.5%, ONE OF THE SLOWEST-GROWING REGIONS. WHAT DOES THAT TELL US?
Anything that starts with a three is still a number that a lot of sectors would be envious of. I used to work in consultancy, and lots of the businesses I used to look after would be delighted to announce 3% in growth. It is a very large and very well-established market already.
Credit: PressTaylor Swift was the world’s top-selling recording artist in 2025 – for the sixth year in a row
It continues to grow in multiple genres. The country music scene is phenomenal – it’s having a real push about finding its reach internationally. The biggest export focus for country music right now is Germany.
And look at Taylor Swift in this past 12 months. I’m not worried about the US market.
JAPAN RETURNED TO GROWTH AFTER A FLAT 2024. IS STREAMING GAINING GROUND THERE TOO?
One of the reasons there’s a global bump in physical is because there’s been a bump in Japan’s numbers. I think that’s mostly due to artists’ releases.
Snow Man released an album at the beginning of 2025 and Mrs GREEN APPLE released 10 half-way through the year. It must be the only place in the world where you can go to Tower Records and there are still eight floors selling records and CDs and videos. It feels like my youth.
Snow Man
But streaming is growing in Japan, and there’s an interesting conversation about when the tipping point comes. So far, the superfan piece in Japan has principally shown up around physical and ownership of products.
But if we start to see those premium tiers and different services – and even things using AI in an ethical and agreed way that allow you to engage differently with your artist – will that lead a generation to find that their superfan engagement can come through a streaming platform, rather than mostly through physical?
HOW CONFIDENT ARE YOU THAT CURRENT MEASURES ON STREAMING FRAUD ARE KEEPING PACE WITH THE SCALE OF THE PROBLEM?
At the moment, no. It’s not enough, because streaming fraud is still happening.
What we find particularly frustrating is [that] it’s really lazy fraud, and it’s really fixable. It requires all of those actors within the streaming value chain to come together and act on a similar set of principles.
“Unless we’re properly sharing [intelligence] amongst platforms and distributors, fraudsters just get shut down somewhere and move to another [platform]. You end up playing Whac-A-Mole.”
I need to see ‘know your customer’-type practices that are much tighter at the beginning – I think we can learn a lot from financial services. [We need] better vetting of material that [goes] onto platforms, good mechanisms to take down [fraud], and the critical piece: sharing.
Unless we’re properly sharing [intelligence] amongst platforms and distributors, fraudsters just get shut down somewhere and move to another [platform]. You end up playing Whac-A-Mole.
WHAT IS THE ONE THING YOU’D LIKE TO SEE FROM POLICYMAKERS ON AI?
I have a really clear view on this: We need governments to listen to us and to see that we are doing this. There are, I think, a dozen licensing arrangements in place, further partnerships and collaborations, and no doubt more to come – because we’re right at the beginning of this journey.
My concern is with policymakers who want to pass legislation that pulls completely in the other direction. We don’t want to see further text and data mining exceptions. We don’t want to see compulsory licensing.
It’s very simple. The music market will do this, and will do it well – just as it did in streaming, which is entirely based on licensing. What I don’t want to see is [a regulatory] vision that impedes that.
Although Kevin O’Leary became a millionaire more than 25 years ago after selling his software company Softkey Products to Mattel for $4.2 billion in 1999, he said he still remembers the exact moment he made it big.
“I get asked all the time, do you remember the moment that you became a millionaire? I do,” the Shark Tank star known as Mr. Wonderful said in a video posted to his LinkedIn in July. “But have to admit, it was very anticlimatic.”
How Kevin O’Leary built his fortune
O’Leary founded Softkey in 1986, and throughout the 1990s his company acquired its biggest competitors like Compton’s New Media, the Learning Co., and Minnesota Educational Computer Co. as well as Creative Wonders, Mindscape, and Broderbund.
This helped Softkey to become the world’s leader in educational, reference, and home productivity software and the second-largest consumer software company in the world at the time with more than $800 million in annual sales, 2,000 employees, and subsidiaries in 15 countries.
While O’Leary’s accomplishment in selling Softkey to Mattel and becoming a millionaire may seem like a major deal, he said it didn’t feel that way.
“Boom, you wake up one day and you say, ‘Wow, this is interesting, but it doesn’t change anything,’” O’Leary said in the LinkedIn video. “That’s the crazy thing. And every millionaire [or] billionaire I talk to says, ‘Yeah, it’s not that big a deal.’”
But that may be O’Leary reflecting on the entirety of his career. In 2003, he became co-investor and director in Storage Now and a founding SPAC investor and director of Stream Global Services in 2007.
He now holds investments in more than 30 private-venture companies, and is the chairman of O’Shares ETF Investments and automated internet-based investment advisory service company Beanstox. And, most famously, he’s been an investor on Shark Tank since the show’s premiere in 2009. O’Leary also owns several companies he founded, including O’Leary Fine Wines and O’Leary Ventures, his private venture-capital investment company.
Why the first million is the hardest
While becoming a millionaire feels like a blip on O’Leary’s radar at this point, he also said in a 2023 video on his YouTube channel that it can feel impossible to make your first million—but meeting a $5 million milestone feels much easier.
“You work your ass off. It’s so hard. What it really takes to do is have the discipline of not buying s*** you don’t need,” O’Leary said in the YouTube video. “To make that first mil is you’ve got to invest it. Market’s going to make you 8%. And then I thought, well my sights are on five [million]. It’s going to be impossible. It wasn’t as hard to get to five [million] as it was to one [million].”
And even though O’Leary has an estimated net worth of about $400 million and pushes pitchers on Shark Tank to really know their numbers and prove their valuation, he insists it’s not about the money to him.
“If you’re very passionate about what you’re doing [you’ll] wake up one morning successful,” O’Leary said in the LinkedIn video. “[The] key is the passion. It’s not the pursuit of greed or money. That doesn’t work. You’re so in love with what you’re doing in business, and you get rewarded for it, particularly if you’re solving a big problem.”
The Thailand Travel Mart Plus (TTM+) 2026 will be held in June at the NICE Pattaya Convention Center, showcasing Thailand’s tourism and business strengths, sustainability, and innovation.
Thailand Travel Mart Plus (TTM+) 2026 Announcement
Bangkok, 20 March 2026 – The Tourism Authority of Thailand (TAT) has announced that the Thailand Travel Mart Plus (TTM+) 2026 will be held from June 10 to 12 at the NICE Pattaya Convention and Exhibition Center in Chon Buri. This event underscores Thailand’s continued prominence as a hub for international business events and tourism investments, emphasizing traveler confidence, safety, and well-being. TTM+ 2026 aims to fortify Thailand’s role in the global tourism landscape.
Strengthening Global Tourism Partnerships
TAT Governor, Ms. Thapanee Kiatphaibool, highlighted TTM+ 2026 as a prime B2B platform, connecting international travel buyers with Thailand’s diverse tourism offerings. Held in Chon Buri, it presents new tourism products under the ‘New Thailand’ strategy and the ‘Healing is the New Luxury’ campaign. The event strives to foster international partnerships and drive sustainable tourism growth. Over 400 Thai sellers will meet 400 international buyers, facilitating over 11,000 pre-scheduled business appointments.
A Dynamic Experience in Chon Buri
The 23rd edition of TTM+ will feature product showcases, networking sessions, and forums on global tourism trends and sustainability. Set in Chon Buri, the event offers a diverse portfolio, highlighting both established and emerging destinations. Participants will enjoy cultural performances, local craftsmanship, and nature-based activities, reinforcing Thailand’s reputation as a destination for inspiring travel experiences. TTM+ 2026 is expected to generate substantial tourism revenue, boosting economic impact across Thailand.
Security wait times at Hartsfield-Jackson Atlanta International Airport (ATL), the world’s busiest by passenger volume, continue to vary dramatically on March 22, 2026, as the partial U.S. government shutdown drags into its second month, leaving Transportation Security Administration (TSA) officers unpaid and contributing to staffing shortages, absenteeism and unpredictable lines.
Hartsfield-Jackson Atlanta Airport
Real-time data from the airport’s official tracker at atl.com/times and third-party aggregators like Takeoff Timer and OnAir Parking showed average standard security wait times around 14 minutes as of midday local time, with peaks earlier in the overnight hours reaching 45 minutes from midnight to 1 a.m. and lows of zero during the quietest overnight slots. TSA PreCheck lanes remained significantly faster, often under 5 minutes when open.
However, passenger reports on social media and Reddit megathreads painted a more volatile picture. Early Sunday morning updates from r/Atlanta users described waits climbing to 75 minutes or more at the main domestic checkpoint during peak arrival periods, with some travelers advising 3+ hours of buffer time before flights. Lines have fluctuated wildly throughout the weekend: long queues spilling into baggage claim areas on Saturday and Friday, then easing briefly midday before building again.
The inconsistency stems directly from the ongoing partial shutdown affecting the Department of Homeland Security (DHS), which funds TSA. With no appropriations bill passed, many TSA employees have missed paychecks — some their second full cycle — prompting high call-out rates (reported as high as 36% on certain days in mid-March) and resignations. Nationwide, absenteeism has hovered around 10-30% above normal, hitting busiest hubs like ATL hardest during spring travel season.
Airport officials and airlines, including Delta Air Lines (ATL’s dominant carrier), have repeatedly urged passengers to arrive at least three hours early for domestic flights and four hours for international ones. Standard guidance recommends two hours pre-departure, but current conditions demand extra cushion for parking, check-in, bag drop and the trek to gates via the Plane Train, which adds 10-20 minutes post-security.
The main domestic checkpoint — serving the bulk of passengers — has seen the most strain, with queues occasionally extending beyond the atrium into baggage claim. North and South checkpoints (including PreCheck-only lanes) and the international terminal have generally moved faster, sometimes clearing in under 10-15 minutes during off-peak. International departures, including Concourse F, reported shorter waits overall.
The crisis has compounded other factors: spring break crowds, potential weather disruptions earlier in the month and general post-pandemic travel recovery. Flight delays and cancellations have risen, though not always directly tied to security — with hundreds affected on peak days per FlightAware data. Passengers missing connections due to long lines have added frustration, with some reporting hours-long backups that force rebooking.
TSA and airport leaders stress that security remains the priority, with available staff prioritizing threat detection over speed. PreCheck, CLEAR and TSA PreCheck enrollment continue to offer the best relief, with dedicated lanes seeing minimal delays. Officials remind travelers that wait times fluctuate hourly — peaking typically 5-9 a.m. and late afternoons/evenings — and urge checking real-time tools before heading out.
The official ATL wait time page provides minute-by-minute updates across checkpoints, though some users note it lags or underreports during surges. Community-sourced trackers on Reddit and apps like MyTSA supplement with crowd photos and firsthand accounts. As the shutdown persists without resolution — despite recent political threats and offers like Elon Musk’s proposal to cover salaries — experts warn conditions could worsen if staffing erodes further.
Travelers are advised to: – Enroll in TSA PreCheck or CLEAR if eligible for expedited screening. – Monitor atl.com/times, the MyTSA app or airline alerts. – Arrive early, especially for early-morning or peak flights. – Consider ground transportation alternatives if driving to the airport amid potential parking backups.
As Congress remains deadlocked over DHS funding amid immigration policy disputes, Atlanta’s airport — handling over 100 million passengers annually — exemplifies the broader national impact on air travel. With no immediate end in sight, the message from officials is clear: plan for delays, pack patience and prioritize buffer time to avoid missing flights.
By Chloe Mari A. Hufana, Reporter and Kaela Patricia B. Gabriel
THE administration may be losing urgency in its anti-graft drive, analysts said, as the independent body tasked to probe anomalies in flood control infrastructure projects concludes its investigation on March 31.
The “abrupt closure” of the Independent Commission for Infrastructure (ICI) may be perceived as “unfinished business,” Gary G. Ador Dionisio, dean of the De La Salle-College of St. Benilde’s School of Diplomacy and Governance, said in a Messenger chat, as no sitting lawmakers and top Public Works officials mentioned during hearings were sent behind bars.
The ICI was created through Executive Order No. 94 in September 2025, as a response to allegations of a multibillion-peso public works scandal involving flood mitigation projects.
Originally comprising Chairman Andres B. Reyes, Jr., and members Rogelio B. Singson and Rossana A. Fajardo, the body was reduced to Mr. Reyes by the end of 2025, raising questions about its lifespan.
In February, the ICI submitted an accomplishment report to Malacañang, which later served as basis for President Ferdinand R. Marcos, Jr.’s decision to close it on March 31.
While the seizure of assets, freezing of bank accounts, and jailing of some personalities could mean the investigative phase is largely completed, Mr. Ador Dionisio flagged a “significant governance risk” in closing the ICI before its expected results are fully delivered.
“The closure of a high-profile investigative body may create the perception that the effort is losing urgency.”
The lack of “substantive achievement” ahead of its shutdown would also suggest that the ICI’s corruption crackdown is “performative,” Joy G. Aceron, convenor-director of transparency group Government Watch, said.
“If they are not continued, they’ll come down as mere performative. Their purpose was only to manage the anger of the people. It did not mean to address corruption,” she said in a Facebook Messenger chat.
University of Santo Tomas Political Science Professor Eric Daniel C. de Torres added the flood mess just leaves Filipinos questioning whether the commission’s work was meant to pursue accountability or just to appease the public.
Hansley A. Juliano, who teaches political science at the Ateneo de Manila University, said the credibility of the anti-graft push will hinge less on individual officials’ reputations and more on whether the administration pursues accountability in a visibly fair and policy-driven manner.
“The Ombudsman’s pursuit of persons of interest and the recovery of relevant assets would be key to the achievement of justice, albeit there would be a clear need to demonstrate cross-party accountability across the accused,” he said via Facebook Messenger.
For Mr. Ador Dionisio, the next phase of the ICI must promote reforms on infrastructure protocols, processes and procurement, and jail time for individuals linked to alleged corruption cases from 2016 to the present.
“If the findings of the commission are systematically integrated into prosecutorial processes, legislative reforms, and long-term oversight mechanisms, the closure may represent the completion of a phase rather than the end of accountability,” he said.
“If not, it risks signaling a premature conclusion to anti-corruption efforts, potentially undermining broader governance reforms,” he added.
Despite its looming shutdown, Mr. Marcos ordered both chambers of Congress to fast-track a measure that would institutionalize and strengthen the body through the creation of the Independent People’s Commission (IPC).
Ms. Aceron said the ICI’s closure paved the way for this measure but noted the IPC will only be sustainable with people’s participation.
Mr. de Torres, however, questioned the need for an IPC, noting existing laws that already established mechanisms for accountability through the Ombudsman and Citizen’s Charter. He also flagged what seems to be a lack of interest to certify the bills granting the commission more teeth as urgent.
Senate Bill No. 1512, filed by Senate President Vicente C. Sotto III last year, proposed an independent body to probe corruption and irregularities in government public works projects. The IPC will hold the power to subpoena, freeze assets and blacklist contractors to boost transparency and accountability in public spending. A similar proposal was filed in the House of Representatives.
“I think that it will not push through; to pass it is a political decision. With the way the early stage of investigation had gone through, it is expected that the individuals, offices, and systems in place is a web-like relationship that is very deep,” Mr. de Torres said in anticipation of possible conflicts of interest in the composition of an IPC.
The Philippines, a climate-vulnerable nation hit by an average of 20 typhoons annually, has consistently dedicated billions of pesos in its annual budgets to flood control projects to shield communities and protect local economies.
However, a series of storms mid-last year further exposed the gaps in the outdated flood control systems of the nation.
(Bloomberg) — South Korea nominated Shin Hyun Song as the nation’s next central bank governor, charging the senior Bank for International Settlements official with steering monetary policy at a time of growing uncertainty due to the conflict in Iran. Read More
Parents can also set ‘Bedtime’ and ‘Take A Break’ reminders for their children, which joins the lineup of existing options they have for teen well-being protections.
