The global music industry continues to shift towards subscription-based streaming, with paid music subscriptions reaching 865 million users worldwide as digital platforms become the dominant way consumers access music.

New research from Futuresource Consulting shows global consumer spending on recorded music increased 8.6% to US$47.1 billion in 2025, with streaming accounting for 86% of total spending.

The growth highlights how platforms such as Spotify, Apple Music and Amazon Music have transformed the music market, moving consumers away from ownership towards subscription models.

For technology companies, the streaming boom is also driving demand for audio products that integrate directly with digital music services, like wireless speakers, headphones and home sound systems. The growth of high-resolution streaming services is also supporting demand for premium audio equipment among consumers seeking improved sound quality.

Paid music subscriptions increased by 71.5 million users during 2025, reinforcing streaming’s position as the main growth engine for the recorded music industry.

Futuresource expects global music spending to exceed US$50 billion in 2026 and reach US $60.2 billion by 2030, with subscription streaming continuing to account for the majority of consumer spending.

Emerging regions are becoming increasingly important with Asia-Pacific passing 400 million paid music subscriptions. China, India, Brazil and Mexico are expected to deliver further growth.

Despite streaming’s dominance, physical music formats continue to attract buyers.

Global spending on physical music increased 7% in 2025, while vinyl retail value grew 10% to $3.77 billion.

The continued popularity of vinyl reflects consumer interest in ownership, collectability and premium listening experiences. Many music fans now reportedly combine streaming for convenience and discovery with physical formats for favourite artists and albums. Likewise, CDs have also maintained a presence in some markets.

The music market is no longer a battleground between streaming and physical media with consumers instead increasingly combining both for their individual experiences.  Streaming provides instant access, portability and discovery, while physical formats offer ownership and a stronger connection with music collections.

The opportunity  for tech lies in supporting both trends by providing connected digital experiences and continuing to innovate in premium audio hardware.