The music market has recently increased by almost 10%
82% confidence
EconomyEuropean Union
Omissions
The MEP did not specify whether referring to EU or Europe-wide data, nor the specific year. The 9.1% figure refers to 2023 EU data, while more recent 2024 data shows 8.3% growth for Europe.
The data refers specifically to recorded music revenues, not the entire music market (which would include live performances, publishing, etc.).
Source publication dates are after the session date, but contain data from reference periods before 2026-04-28.
Sources
PrimaryIFPI - Music in the EU 2024In 2023, recorded music revenues in the EU grew by 8.7% to a total of €5.2 billion
PrimaryIFPI - Global Music Report 2025Europe maintained its position as the second largest region and grew revenues by 8.3% in 2024
SecondaryNew Industry FocusIFPI's 2024 report shows EU recorded music revenue hit €5.7bn, a 9.1% increase