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LONDON – Following the arrival of the U.K. government’s Spring Statement — an overview of the upcoming budgetary and spending plans — on Wednesday (Mar. 26), the U.K. creative industries are expressing concern over what the new budget could mean for artists, grassroots music venues and music education this year.
Since coming into power after winning an overwhelming majority with 412 elected MPs in last July’s General Election, Sir Keir Starmer’s Labour Party and Lisa Nandy — the U.K.’s culture, media and sport secretary — have run their campaign on promises of economic growth and a greater respect for the British arts. Last summer, they pledged a new National Music Education Network in their manifesto that would deliver increased resources for parents, teachers, and children. The creative industries were also named as a growth-driving pillar in the U.K.’s modern industrial strategy, with an aim to grow the sector by £50 billion by 2030.In November, Chancellor Rachel Reeves delivered the first Labour budget in 15 years, which raised some taxes — notably national insurance contributions for employers — that will allow the government to invest in the National Health Service (NHS), education and infrastructure. She also committed £6.7 billion ($8.6 billion) for education investment in 2025.
In the Spring Statement, however, which was delivered by Reeves from London this afternoon, a fresh set of cuts to government spending and public investment were outlined. She also told MPs that “the world has changed” since her first budget just under five months ago, and that those changes were to blame for the string of downgrades she put forward.
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When discussing departmental budgets, which dictate how much different parts of government can spend until 2030, Reeves said she aims to make the state “leaner and more agile.” Early reports suggested that day-to-day department spending was set to increase by an average of 1.3% per year above inflation; Reeves said it will rise by 1.2%. Furthermore, she confirmed that cuts will fall on departments outside of health, defense and education, whose departmental spending is not “protected,” she said.
“The Spring Statement makes it clear that most government departments, including the Department for Culture, Media and Sport, face real-terms cuts,” Roberto Neri, CEO of The Ivors Academy, tells Billboard U.K. “This will put further pressure on already stretched budgets at the BBC and Arts Council England, two of the most significant commissioners of new music.”
Years of underfunding from previous governments, tough financial conditions for artists and grassroots venues and complex issues surrounding generative artificial intelligence (AI) are all significant challenges for the sector. A hearing at The Houses of Parliament in October 2023, for example, found that 1,000 music teachers have been lost in the past decade, while a 2025 report by Music Mark found that Labour had inherited a shortfall in its music education budget over the next five years.A briefing published by U.K. Music in Sept. 2024, meanwhile, suggested that the international appetite for British music remains strong — with overall exports growing by 15% to £4.6 billion ($5.9 billion) last year — but that the health of the country’s music ecosystem must be looked at more closely, Neri posits.“Since the pandemic, the U.K.’s music industry has grown almost twice as fast as the wider economy — and we’re fighting to ensure songwriters and composers see more of the benefits,” Neri says. “As the government prioritises economic growth, it should back our world-leading songwriters and composers, the source of all value in music, and invest in the infrastructure they depend on.”
The lack of new policy around music and culture in the Spring Statement is also of concern to Ben Selway, managing director at Access Creative College (ACC), the U.K.’s largest independent training provider across creative fields. Former pupils at Access Creative’s seven national campuses include Ed Sheeran (now a patron of the ACC), Rita Ora and Jorja Douglas of BRIT-nominated girl group FLO.The future of music education in the U.K., Selway says, depends on “how effectively we are able to reverse the negative trends we’ve seen over the past decades, from the closure of grassroots music venues to a reduction in funding in real terms, and mitigate the risks that threaten the music industry, such as AI and copyright.”Selway also highlights the recent statement made by the Ed Sheeran Foundation, whose namesake made headlines earlier this week with the release of an open letter — signed by other A-listers including Sir Elton John and Harry Styles — calling upon the government to ensure music education remains high on the agenda. “This creative industry brings so much to our culture, our communities, our economy, our personal wellbeing, but music education has fallen through the gaps. That’s why I’m asking the government, collectively, to correct the mistakes of its past and to protect and grow this for generations to come,” Sheeran wrote.
Sophie Brownlee, external affairs manager at the Music Venue Trust (an organisation that supports the grassroots music scene) told Billboard U.K. that “the chancellor, treasury and DCMS have all the facts and data they need to know how to reverse the decline in access to live music and culture in our communities.” She added: “For the chancellor to choose, once again, not to act on this opportunity will not generate growth or meet the Government’s wider ambitions for the creative industries. Instead, it will see more grassroots music venues close, many in already deprived communities, further jobs lost, and the continuation of undervaluing local culture in the U.K.”Though Reeves announced plans to invest more in AI technologies across the civil service and defense sectors, her statement didn’t broach the government’s 10-week consultation, which took place in late 2024, on whether copyrighted content, including music, can lawfully be used by developers to train generative AI models.In recent months, the AI question has become a highly debated talking point among the industry, proving controversial among creatives and copyright holders. The government’s resulting report said an “opt out” approach would give rights holders a greater ability to license the use of their content, but those plans are yet to be confirmed.Tom Kiehl of U.K. Music argues this is not a time to become complacent. “The chancellor has talked again about her strategy for economic growth and some of the potential benefits of AI,” he says. “However, there was nothing in her statement about the huge damage that would be caused to the music industry by government plans to give AI firms unfettered access to music under sweeping changes to copyright law. The proposals would be a disaster for the U.K.’s £7.6 billion music industry.
“We need an urgent rethink from the Government and the Chancellor over those plans,” Kiehl continued, “which would allow firms to train their AI models on British music without having to pay or seek permission from the people who created the work or own the rights.”
“We’ve been trying to spread our music from Japan to the world,” Lilas Ikuta, singer for the Tokyo-based duo YOASOBI, told the audience at a sold-out Peacock Theater show in Los Angeles during a break in the group’s frenetic, synth-driven pop show. Already stars in their home country, Ikuta, who goes by the stage name Ikura, and her bandmate, Ayase, are beginning to get serious help finding fans beyond their home turf.
YOASOBI’s appearance that night was part of a concerted effort to push Japanese pop music — J-pop — far beyond the island nation. The March 16 showcase — matsuri ’25: Japanese Music Experience LOS ANGELES, which also featured Ado and ATARASHII GAKKO! — is the creation of The Japan Culture and Entertainment Industry Promotion Association (CEIPA), an organization created by the five Japanese music industry organizations, along with Los Angeles-based promoter Goldenvoice. CEIPA was founded in 2023 by the Recording Industry of Japan (RIAJ), the Music Publishers Association of Japan (MPAJ), the Federation of Music Producers Japan (FMPJ), Japan Association of Music Enterprises (JAME) and All Japan Concert and Live Entertainment Promoters Conference (A.C.P.C.) An industry mixer and panel discussion before the concert was hosted by the Japan External Trade Organization (JETRO) and the Consulate-General of Japan in L.A.
The quest to take J-pop global also has the financial heft of Japan’s largest corporation. In February, CEIPA announced a partnership with Toyota and the launch The Music Way Project, an effort to bring Japanese music to a global audience. The Music Way Project will have overseas bases in L.A., London and Thailand to organize showcases in those regions. It will also help develop artists through a three-pronged approach that includes student seminars, in collaboration with Japanese universities; seminars for young music professionals; and a songwriting camp. Toyota’s “innovation and adventurous spirit,” said CEIPA executive director Taro Kumabe at the press conference, “aligns perfectly with our mission to take Japanese music further into the world.”
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The global success of South Korean music — K-pop — and the resulting growth of companies such as HYBE and SM Entertainment have people in Japan wondering why J-pop can’t be the next great music export. “There is a chance for Japan as well,” Tatsuya Nomura, board member of CEIPA and president of FMPJ, told Billboard through an interpreter. “You have to understand, K-pop music is based on ‘80s Japanese pop. So, as long as we strive forward, we can do it.”
Japan already has a presence in the U.S. mainstream through video games (Final Fantasy, Pokémon), anime (Spirited Away), fashion (Uniqlo), food (sushi) and martial arts (karate). But while K-pop songs and albums regularly appear at the top of Billboard’s U.S. charts, J-pop remains a niche. A few Japanese artists have made some headway. In 2019, pop trio Perfume became the first J-pop act to perform at Coachella. Babymetal, a heavy metal band fronted by three females, tours the U.S. regularly and has appeared at festivals such as Sick New World and Rock on the Range. YAOSOBI performed at Lollapalooza and Coachella in 2024 but didn’t build a U.S. tour around those appearances.
Successfully breaking J-pop in the U.S. and other foreign markets would provide a financial windfall for the Japanese music industry. While Japan was the second-largest recorded music market in 2024, according to the IFPI, it was just 23% the size of the U.S. And because streaming dominates in the U.S. — it accounted for 84% of 2024 revenue, according to the RIAA — there is a huge, internet-connected audience ready to push play on emerging trends. Last year, the global music market reached $29.6 billion, with $20.4 billion coming just from streaming.
South Korea’s early embrace of streaming helped K-pop find fans in the U.S. and elsewhere. With streaming starting to take off in Japan, Nomura believes the time is right for J-pop to look beyond its borders. “Up until now, the Japanese market was mainly focused on CD sales,” he says. “But after COVID happened, people started listening to music on a streaming service. That opened a new page for Japanese music outside of Japan.”
Japan’s government wants to give J-pop a push, too. Faced with decades of deflation and stagnant wages, it’s looking to its content industries to help lift wages and commodity prices. These grand ambitions were laid out in a 2024 report by Japan’s Ministry of Economy, Trade and Industry (METI) titled, “Grand Design and Action Plan for a New Form of Capitalism 2024,” which described the government’s dedication to increase exports of the country’s content — including music — to a world audience that’s easily reachable by digital distribution. The plan includes, among other things, education, assisting business development and using global platforms “to encourage the formation of local, dedicated fan communities.” Nomura said CEIPA does not receive any government funding.
Michael Africk, a former recording artist with songwriting and production credits on numerous hits in Japan, also believes that J-pop is ready for a bigger stage. Africk’s Handcraft Entertainment recently raised $1 million to help build a multi-faceted company that Africk says will encompass music, fashion, merchandise and cosmetics. The relatively small sum is just “a start,” he says, and the next funding round is already underway.
Africk sees South Korea’s success as a blueprint for how Japan can work in foreign markets and tailor its music to Westerners. K-pop “Westernized really well,” he says. “They understand the economics and the way business works over here. The Japanese struggle with that a bit.” After decades spent working on both sides of the Pacific, Africk believes his experience will help Handcraft bridge the business culture divide between the world’s two largest music markets.
For J-pop to cross over in the West, the artists and music will need to fit the tastes of listeners. Africk explains that J-pop that’s popular in Japan tends to have vocal sounds and chord changes that Western audiences aren’t used to hearing. He seeks out artists who cross cultures seamlessly, speak both Japanese and English perfectly, and have appeal in both Japan and English-speaking countries. While K-pop leans heavily toward ensembles, Handcraft, which is distributed by Virgin Music Group outside of Japan and B ZONE within Japan, has signed two individual artists, Anna Aya and Hana Kuro.
There were two other signs of Japan’s expansion this month. First, blackx, an Asian-focused music investment firm, and ASOBISYSTEM, a management and production company that represents more than 100 artists, formed a strategic partnership to build J-pop outside of Japan. The pairing is meant to provide artists with resources, help them connect with fans globally and create cross-industry collaborations. Then on Tuesday (March 25), Japanese music company Avex made a major move into the U.S. market by naming Brandon Silverstein, founder of S10 Entertainment, the CEO of its newly formed U.S. arm, Avex Music Group. As part of the deal, Avex acquired 100% of S10’s publishing division and added to its existing stake in the management business. The hiring and investment will help Avex break Japanese artists in global markets and position Avex “as a potent force in the international music landscape,” Avex CEO Katsumi Kuroiwa said in a statement.
The Japanese industry will make another push in May with the inaugural Music Awards Japan, an ambitious, two-day event that will name winners of 62 categories based on votes from more than 5,000 members of the Japanese music industry. Set for May 21 and 22 in Kyoto, the awards show will be broadcast in Japan by NHK and will be streamed globally by YouTube. Toyota is a top sponsor of the event.
“Beginning with matsuri ‘25 and the Music Awards Japan, we hope that these events will become the sort of conception or beginning to a lot of different Japanese music artists being able to create more, expand their expression and creativity, to share their love for music with different fans around the world,” CEIPA’s Nomura said during the press conference. “This is going to define the future of the Japanese music industry.”
SoundExchange has partnered with Music Nation Copyrights Management, a leading music rights organization in the United Arab Emirates, as part of new efforts to ensure fair compensation for sound recording owners, producers and artists when their music is publicly performed across the UAE’s music industry.
This collaboration, announced Wednesday (March 26), will enable Music Nation to leverage SoundExchange’s technology and data in order to collect and distribute neighboring rights royalties in the UAE. The UAE’s first comprehensive rights management system will streamline the collection of performance, mechanical and neighboring rights royalties, providing a single solution for music rightsholders, the companies said in a joint announcement.
Music Nation plays a key role in the UAE’s evolving copyright landscape by licensing the rights of authors, publishers, performers and sound recording owners. With partnerships like those with BMI and SoundExchange, Music Nation is advancing the country’s efforts to protect musical copyrights through a comprehensive licensing and royalty distribution infrastructure.
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The partnership builds on Music Nation’s existing collaboration with BMI, the U.S. performing rights organization, further ensuring that local and international artists, songwriters, publishers, and record labels are compensated for the use of their work in the UAE. The timing aligns with the region’s rapid music industry growth, as IFPI recently reported a 22.8% increase in recorded music revenue in MENA in 2024, marking it as the fastest-growing music market globally.
Rasha Khalifa Al Mubarak, chairwoman of Music Nation, expressed excitement about the partnership, saying “by comprehensively and accurately collecting and distributing neighboring rights royalties, Music Nation will help ensure the continued growth of the region’s vibrant music ecosystem.”
Michael Huppe, president and CEO of SoundExchange, added: “Our in-depth administration expertise, proven record on rate settings, and premiere distribution processes for international creators will provide capabilities to propel the emerging UAE market. SoundExchange is proud to partner with Music Nation on this exciting project, and to help the Emirati creator community realize the true power and value of their music.”
LONDON — Following the controversial ticket sale for Oasis’ reunion dates in the U.K. and Ireland this coming summer, the CMA (Competition and Markets Authority) has said that Ticketmaster may have “misled” fans over pricing for the shows.
In August 2024, the Gallagher brothers announced their reformation for 19 stadium shows, their first since their split in 2009. The tour will begin on July 4 at Cardiff’s Principality Stadium, before heading to North America, Asia, Latin America and Australia in the ensuing months
The ticket sale process drew huge demand, but some fans complained of unclear pricing for tickets after long waits for the opportunity to purchase passes. An update to the CMA’s ongoing investigation highlights that Ticketmaster UK may have breached consumer protection law, by “Labelling certain seated tickets as ‘platinum’ and selling them for near 2.5 times the price of equivalent standard tickets, without sufficiently explaining that they did not offer additional benefits and were often located in the same area of the stadium.”
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The update adds that demand meant that cheaper tickets sold out first, but that the release of more expensive tickets for similar places in the stadiums meant that “many fans waited in a lengthy queue without understanding what they would be paying and then having to decide whether to pay a higher price than they expected.”
More than 900,000 tickets were sold for Oasis’ long-awaited reunion tour, but the pricing strategy proved controversial when standard standing tickets advertised at £135 plus fees ($174) were re-labelled “in demand” and changed on Ticketmaster to £355 plus fees ($458).
Following the furore, Oasis issued a statement saying they had no “awareness that dynamic pricing was going to be used” in the sale of tickets for the initial dates. The CMA launched an investigation in September to examine whether Ticketmaster had used “unfair commercial practices” to pressure fans into paying higher prices for tickets.
Ticketmaster denied the use of the so-called ‘dynamic pricing’ method, with the company’s U.K. director Andrew Parsons telling MPs in February, “We don’t change prices in any automated or algorithmic way.” He added that all prices are determined by artist teams and promoters SJM Concerts, MCD Promotions and DF Concerts, all of which have links to Live Nation, Ticketmaster’s owners.
The report acknowledges that since the opening of the investigation, “Ticketmaster has made changes to some aspects of its ticket sales process,” but that the CMA “does not currently consider these changes are sufficient to address its concerns.” The report does not directly comment on the alleged ‘dynamic pricing’ model, but cites other concerns around clearer sale practises.
The CMA says that, “Following a formal investigation, the CMA is now consulting with the ticketing platform on changes to ensure fans receive the right information, at the right time.”
In a statement to Billboard U.K., Ticketmaster U.K. said, “We strive to provide the best ticketing platform through a simple, transparent and consumer-friendly experience. We welcome the CMA’s input in helping make the industry even better for fans.”
Downing Street responded to the report (via the BBC) by repeating a quote given by culture, media and sport secretary Lisa Nandy following the news that the government announced plans to cap the value of resold tickets for live events like music. “The chance to see your favourite musicians or sports teams live is something that all of us enjoy… But for too long fans have had to endure the misery of touts hoovering up tickets for resale at vastly inflated prices.
“We’ve also seen cases where a lack of transparency has meant customers have been caught unawares by last minute price rises for high demand events.”
The owners of Departure — the conference and festival formerly known as Canadian Music Week (CMW) — are being sued by its former founder/president for breach of contract and unpaid sale fees.
In a notice of action filed with the Ontario Court of Justice this week (March 17), Neill Dixon has commenced a legal proceeding against the owners of Departure, including Loft Entertainment and Oak View Group (OVG) Canada.
Dixon accuses the companies of breach of contract, unjust enrichment and quantum meruit (a reasonable fee for work done) and seeks damages of $435,428 plus $50,000 in punitive and aggravated damages. The claim states that the new owners have not paid the full sale price of $2,000,000 agreed to in June 2024.
“After 42 years of building an internationally respected Canadian music business, I made the difficult decision to sell and retire, trusting the purchasers to honour their commitments under the Agreement we had between us,” Dixon tells Billboard Canada in a statement. “I have been forced to start a lawsuit to hold them to their end of the Agreement we had between us. It’s disheartening to have decades of dedication and hard work met with such an approach by them.”
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In a statement to Billboard Canada, Loft and OVG confirm they have received the statement of claim and write that they have been negotiating with Dixon over the terms.
“LOFT Entertainment and Oak View Group have received a formal statement of claim from Neill Dixon,” they write. “We have been negotiating with Neill and his counsel for an extended period to finalize our agreed upon terms. If we are unable to reach an agreement, we will explore alternative options.”
Dixon announced his retirement and sale of CMW to Loft and the U.S.-based OVG (which has opened an office in Canada) on the opening day of the conference last summer. In a surprise move before the end of 2024, the new owners announced they would be changing the event’s name to Departure. The festival had been known as Canadian Music Week since 1982, which included Dixon’s entire term as president. During that time, it became known as one of the most important music industry conferences in Canada.
The new owners announced the rebranding at a launch event in November at the conference’s new headquarters, Hotel X in Toronto. The new Departure team — including Loft co-founder Randy Lennox, CEO Jackie Dean and executive producer Kevin Barton as well as OVG Canada president Tom Pistore — outlined a new vision for the festival, expanding the music event to also include comedy, tech, food and more. Some of the confirmed speakers for this year include Matty Matheson, Bryan Adams and Dallas Green.
Dixon was at the launch event, where Lennox and Barton announced they would honour the former CMW co-founder with a lifetime achievement award at this year’s festival, which takes place from May 6-11, 2025.
Now, however, Dixon claims the new owners have not honoured their monetary commitments to him.
Full story here. – Richard Trapunski
IFPI Global Music Report 2025 Touts Canadian Revenue Growth, International Punjabi Music Push
Canada’s music market is staying strong, with revenues growing to $660.3 million USD in 2024.
That’s according to the IFPI, which represents the global recording industry. IFPI’s 2025 State of the Industry report again lists Canada as the 8th largest music market in the world.
Canada’s 2024 revenues saw relatively small growth of just 1.5%, but the report notes that the 2024 figures are in comparison to an unusually high 2023, which saw a large one-off performance rights revenue payment.
Meanwhile, Canada’s most popular musician, Drake, saw his global standing rise. During a tough year for the superstar’s reputation, his worldwide popularity increased, rising from No. 4 to No. 2 in the IFPI’s artist rankings, behind only Taylor Swift.
The report highlights Warner Canada and Warner India’s joint venture, 91 North, which has been successfully growing the profile of South Asian music in Canada and abroad. In the report, Warner India’s Jay Mehta and Warner Canada’s Kristen Burke discussed how the collaborative label came to be. Mehta says the idea came to him during lockdown when he noticed the explosion in Punjabi talent coming out of Canada.
“While it was already a big consumption market, Canada was newly becoming a big creator market, which was consistently making great Indian sounds,” Mehta said. He connected with Burke on the idea of a label that could support South Asian artists in Canada who have huge followings in India.
“Jay and I quickly got together and recognized that there was a real opportunity here to be the first label to come together to really support these artists,” Burke added.
Read more on the Canadian insights in the IFPI Global Music Report here. – Rosie Long Decter
Canadian Country Music Association Adds Francophone Artist of the Year Category for 2025
The Canadian Country Music Association is adding a new category for Francophone Artist of the Year.
The inaugural award will be presented during Country Music Week in Kelowna, B.C., this September. It marks a milestone addition for the CCMA Awards, recognizing both the increasing impact of Francophone artists in Canadian country and the popularity of country music in Quebec.
“The addition of the Francophone Artist of the Year category is a significant step forward in celebrating the diversity within Canadian country music,” said Amy Jeninga, CCMA President, in a statement. “We are thrilled to provide a dedicated platform that recognizes and supports Francophone country artists, ensuring their contributions receive the attention they deserve.”
The eligibility period runs from March 1, 2024, through April 30, 2025. Seventy percent of the act’s released repertoire during that period must be in French.
The new award, which joins the 15 established artist awards at the CCMAs, will shine a light on Francophone artists who might not be getting a national spotlight.
Quebec has a robust Francophone country scene. The province’s ADISQ Gala presents an annual award for Country Album, with recent winners and nominees including Acadian group Salebarbes, singer-songwriter Alex Burger and multi-instrumentalist duo Hauterive.
Francophone country artists are also spread across the country beyond Quebec. The Ontario equivalent of the CCMAs, the Country Music Association of Ontario, already features a similar award dedicated to Francophone artists. Reney Ray of Kapuskasing, Ontario, took home the 2024 CMA Ontario Award for Francophone artist of the year.
The new award at the CCMAs is the latest example of major Canadian music associations adapting to account for the country’s musical and cultural diversity.
Read more here. – RLD
A “datapocalypse” hit the music industry this week as both the RIAA and IFPI reported 2024 numbers, following MIDiA Research’s annual tally a week earlier — and all three agreed that growth slowed in 2024. The IFPI’s figures and rankings of top markets revealed the rise of emerging markets, while the U.S.-focused RIAA figures revealed that growth in the United States was particularly weak (although not the worst in the world).
The trends seen in these reports have consequences for the global music industry. Companies follow opportunities, and emerging markets are attractive places to put resources. In November, Billboard published a story about major labels’ pivot in investment strategy from tech startups to old-school music companies in small and developing markets. As majors face slowing growth in mature markets, they’re looking for growth elsewhere — especially China, India and Africa. Independent companies such as Believe have long pursued markets around the world, too, betting on the rise of streaming and the increasing popularity of local music.
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The trio of reports underscore that slow streaming growth in many markets will need to be addressed. To that end, labels are already working to improve payouts through super-premium tiers that carry higher prices and working with streaming platforms to ensure “professional” artists get better remuneration than hobbyists, background noise and nature sounds. Ridding streaming platforms of AI-generated tracks will also improve labels’ payouts.
The reports differ because they represent different types of income. The IFPI reports trade revenue — the money collected by distributors and record labels — while much of the RIAA’s report shows the retail value, or the money collected by streaming platforms and retailers. In addition, the RIAA numbers cover only the U.S. while the IFPI and MIDiA reports track the global business. MIDiA Research includes additional revenue streams not found in RIAA or IFPI reports: expanded rights, which includes merchandise, sponsorships and other revenue that does not originate from master rights; and production music, which is growing in importance in music licensing but is typically outside the purview of record labels.
Following are the four main takeaways from the three reports.
Emerging Markets Were the Story of 2024
The most established markets mostly kept their place in the pecking order, but there was one momentous change in 2024. In a sign of the times, Australia, which ranked No. 10 on the IFPI rankings in both 2022 and 2023, was replaced by Mexico. While Australia improved 6.1%, Mexico expanded 15.6% thanks to a huge improvement in subscription revenue. In fact, the Latin America region grew an astounding 22.5%. Brazil, the No. 9 market, grew 21.7% — the fastest rate in the top 10.
Despite having a relatively small population of approximately 27 million, Australia has historically punched above its weight in music spending. The country ranked No. 6 in both 2014 and 2015 before falling off the top 10 in 2024 for the first time in nearly three decades. Meanwhile, Mexico — which had never cracked the top 10 before now — has roughly 130 million people, a booming streaming market and a flourishing music scene.
To be fair, Mexico is more of a mid-tier market than an emerging market. In terms of IFPI rankings, the country is emerging only in the sense that it “emerged” into the top 10. But it has a lot in common with emerging markets, including high growth rates and ample room for more subscriptions. In mature markets, subscribers are becoming harder to find.
China held firm at No. 5, its same ranking as the previous two years. With the world’s largest population and a fast-growing subscription streaming market, the country has risen from No. 7 in 2019 and No. 10 in 2017. Its largest music streaming company, Tencent Music Entertainment, finished the year with 121 million subscribers — more than all the streaming subscribers in the U.S.
In terms of pure growth rate, the top regions were the smaller Middle East-North Africa (MENA) and Sub-Saharan Africa, which grew at 22.8% and 22.6%, respectively.
Prior to 2024, the same markets had appeared in the top 10 for the last decade, sometimes in a different order. In 2017, China and Brazil entered the top 10, knocking out Italy and the Netherlands. Brazil had been in the top 10 in previous years but was absent in 2016. Now, with Mexico and emerging markets surging, we may be seeing a bigger shakeup in the top 10 in the future.
U.S. Growth Underperformed Nearly Every Other Market
In a business where year-over-year growth has become commonplace, the large, mature music markets don’t have the appeal of the smaller, fast-growing ones. So, while the U.S. remained the world’s largest market — by a wide margin — its revenue growth didn’t even keep up with 2024’s 2.9% inflation rate (depending on which numbers you’re looking at).
U.S. revenue growth slowed to 2.2% according to the IFPI report, or 3.2% according to the RIAA report. Together, the U.S. and Canada, which grew 1.5% in 2024, accounted for 40.3% of global revenue but grew just 2.1%, according to the IFPI report. Japan, the world’s second-largest market, dropped 0.2% as a 5.5% increase in streaming — led by a 7.2% gain in subscription revenue — was offset by a 2.7% decline in physical revenue. South Korea, the No. 7 market, fell 5.7%. The total Asia region grew 1.3%, however, in part due to China increasing 9.6%.
Some other major markets fared better than the U.S. As Billboard previously reported, U.K. revenues increased 4.8% and Germany rose 7.8%.
Subscriptions Are Stronger Than Ever
Subscriptions are the lifeblood of the record industry, accounting for more than 74% of global streaming revenue and 51.2% of total revenue in 2024, up from 49.1% in 2023, according to the IFPI. Of the global industry’s $1.4 billion added in 2024, $1.3 billion came from subscription streaming.
That said, the U.S. subscription market slowed considerably in 2024. Global subscription revenue rose 9.5% to $10.46 billion — almost double the 5.3% growth rate in the U.S., according to the RIAA. That 5.3% gain was half of 2023’s 10.6% improvement and well under 2022’s 7.2% growth (the 22.2% subscription growth seen in 2021 was a fortunate aberration of the pandemic). While a reversion to the mean was expected in successive years, 5.3% isn’t much, especially in a year when Spotify raised prices.
Ad-Supported Music, On the Other Hand…
Global ad-supported streaming grew just 3% to $3.62 billion, according to the IFPI. That’s a paltry number given the growth of streaming in large emerging markets such as India and Indonesia. But 3% global growth outperformed the U.S., where the RIAA report showed that ad-supported streaming dropped 1.8% and hasn’t had a double-digit gain since 2021.
For all the popularity of subscription music services, consumers will continue to use ad-supported platforms — video platforms like YouTube, social media apps like TikTok and radio services such as Pandora. And for freemium services such as Spotify, the ad-supported tier is a critical gateway to the premium tiers.
But the state of the economy suggests advertising dollars could be difficult in 2025, too, as advertisers tend to pull back their spending at the first signs of an economic slowdown. SiriusXM CFO Tom Barry, speaking at a banking conference on March 11, said advertising started “to see a drop-off” in previous weeks following the Trump administration’s tariff threats. “I would say we’re cautious about where the ad industry is going right now,” he warned.
Shakira‘s series of concerts in Mexico as part of her international tour Las Mujeres Ya No Lloran (Women Don’t Cry Anymore) marked her highly anticipated return after a seven-year absence and earned the Colombian superstar several unprecedented records. The tour also set a historic precedent by boosting tourism and generating millions in economic revenue across the three major cities of the country, which has the second-largest economy in Latin America after Brazil.
Among the many achievements La Loba accomplished in Mexico with her seventh and most ambitious international tour, the sale of 645,000 tickets for her 11 scheduled concerts stands out, according to figures from promoter OCESA. Of those tickets, 455,000 were for seven shows at Mexico City’s Estadio GNP Seguros (March 19, 21, 23, 25, 27, 28, and 30), marking the highest number of performances by any artist at this iconic venue (formerly known as Foro Sol), which has hosted stars like Paul McCartney, Coldplay, Taylor Swift, and Metallica.
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Additionally, 90,000 tickets were sold for her two concerts at the Estadio Akron in Guadalajara (March 16 and 17), while another 100,000 corresponded to two dates at the Estadio BBVA in Monterrey (March 12 and 13), where the Mexican leg of her tour kicked off.
Ticketmaster México reports that 2.5 million people visited its website to search for tickets to Shakira’s concerts since the tour was announced in the country last October, according to data provided to Billboard Español. This makes her the most searched act on Ticketmaster over the past year, according to the ticketing company.
“Of the 90,000 tickets sold for Estadio Akron, 37,000 were purchased outside the city, which implies tourism,” Gustavo Staufert, general director of the Guadalajara Visitors and Conventions Office (OFVC, by its acronym in Spanish), told Billboard Español, citing figures from OCESA and Ticketmaster México. “If we talk about double hotel occupancy, we’re looking at 40,000 rooms per night, which would generate around 80 million pesos (approximately $4 million) in direct revenue for hotels, and an estimated tourism revenue of 900 million pesos (approximately $44.4 million).”
The tour supporting Shakira’s album Las Mujeres Ya No Lloran has generated significant buzz in the Mexican destinations it has reached. Mexico City serves as the epicenter of the Latin American leg, where the seven scheduled shows at the Estadio GNP Seguros are expected to generate an estimated economic impact of 5.5 billion pesos (approximately $275 million), according to data from the CDMX Secretariat of Tourism provided to Billboard Español. “That figure only accounts for lodging, restaurants, and nightlife venues; it does not include revenue from ticket sales,” clarified Mexico City’s Tourism Secretary, Alejandra Frausto, in an interview.
In Mexico City, the show by the “Antología” singer is also generating around 20,000 jobs in logistics, security, transportation, and production, benefiting workers across various sectors such as hospitality, restaurants, and airlines, as well as street vendors and small businesses near the venues, noted Frausto.
According to data from Ticketmaster, between 30% and 40% of attendees at Shakira’s concerts in Mexico travel from another state in the country to one of the three cities hosting the shows. A request for information from Billboard Español to the Nuevo León Secretariat of Tourism and the Nuevo León Tourism Development Corporation (Codetur) regarding the economic impact of Shakira’s visit to Monterrey had not been answered at the time of publication.
A world-class show that “is worth it all”
To follow Shakira’s tour across Mexico, “her pack” goes to great lengths. That’s the case of Édgar Lima, a chemical engineer from Mexico City, who will attend all 11 dates his idol is performing in the country. In an interview with the newspaper Reforma, the young fan shared that he spent nearly 80,000 pesos (about $4,000) just on tickets, adding another 12,000 pesos (approximately $600) for transportation and accommodation in Guadalajara and Monterrey.
Experts point out that hosting shows featuring major music stars like the Colombian superstar not only mobilizes her fans but also brings benefits to the local economy and strengthens connectivity between national and international destinations.
The travel company Despegar, a sponsor of the tour, reported a significant increase in interest for flights and accommodations in the three main Mexican cities included in the tour, with an average growth of 43% during the concert dates (March 12 to 30). “Monterrey stood out with a 66% increase in hotel demand,” the company detailed in a statement.
The company added that most travelers to these cities came from Mexico City, Veracruz, Chihuahua, Mérida, and Cancún. Meanwhile, Frausto noted that Mexico City welcomed visitors from across the country, as well as international travelers from the United States, El Salvador, Colombia, and Peru.
A curious fact brought by the Colombian artist’s visit to Mexico was an increase in hotel and lodging reservations in the three Mexican cities hosting *Las Mujeres Ya No Lloran* coming from Las Vegas. “Tourism and music have always been connected, and Shakira’s return to Mexico is a clear example of how major events drive traveler mobility,” said Santiago Elijovich, VP & Country Manager Mexico at Despegar, as quoted in the statement.
Édgar Lima claims that every peso spent on attending Shakira’s 11 concerts in Mexico is worth it. “I believe she puts on a world-class show, and seeing them all makes me think that every investment is worth it and that every peso spent was the best decision I could make.”
For the first time ever, Mexico has entered the top 10 global music markets, the International Federation of the Phonographic Industry (IFPI) has confirmed to Billboard Español. The milestone was driven by a 15.6% increase in recorded music revenue, as revealed in the IFPI’s 2025 Global Music Report published Wednesday (March 19). Mexico’s climb to No. […]
It’s a few days late to tie in with St. Patrick’s Day, but U2 are the first Irish songwriters to be named Ivors Academy Fellows. They are the second group to receive the honor, following Bee Gees.
Ivors Academy Fellows is the highest honor that the organization, best known for their annual Ivor Novello Awards, bestows. The award will be presented at this year’s The Ivors with Amazon Music event at Grosvenor House in London on Thursday May 22. This year’s Ivor Novello Award nominees will be announced on Wednesday April 23.
With U2’s inclusion, the total number of Fellows rises to 32. This counts U2 (Bono, The Edge, Adam Clayton and Larry Mullen Jr.) as four individuals and Bees Gees (Barry, Maurice and Robin Gibb) as three. Most of the honorees (see full list at the end of this story) have hailed from Britain, though the roster also includes American composer/conductor John Adams, American rock singer/songwriter Bruce Springsteen and French composer/conductor Pierre Boulez.
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Formed in Dublin in 1978, U2 is one of the greatest songwriting partnerships and most influential bands of all time. The band has amassed eight No. 1 albums on the Billboard 200 and two No. 1 hits on the Billboard Hot 100. U2 is the only band to have a No. 1 album on the Billboard 200 in four consecutive decades (the 1980s through the 2010s).
U2 has won 22 Grammy Awards, far more than any other group in history. This tally includes four wins in songwriting categories: two for song of the year (for “Beautiful Day” and “Sometimes You Can’t Make It on Your Own”) and two for best rock song (for “Vertigo” and “City of Blinding Lights”).
In addition, the band members have received two Oscar nominations for best original song, for “The Hands That Built America” (from Gangs of New York) and “Ordinary Love” (from Mandela: Long Walk to Freedom).
U2 has won four Ivor Novello Awards – the Special Award for International Achievement in 1994, Best Song Musically and Lyrically for “Walk On” in 2002, Outstanding Song Collection in 2003 and International Hit of the Year for “Vertigo” in 2005.
Other prized songs by U2 include “I Will Follow,” “Pride (In the Name of Love),” “I Still Haven’t Found What I’m Looking For,” “With or Without You” and “One.”
“To be recognised in this way by The Ivors Academy feels very special indeed,” U2’s Adam Clayton said in a statement. “The appreciation of one’s peers is a humbling honour and we are immensely grateful. We’ve been playing our songs in this country for over 45 years, thank you to all those who have not just supported us, but carried us… producers, engineers, crew, fans, management, label.”
Bandmate Larry Mullen Jr. added: “Making music collectively, as we’ve done for close to 50 years, has been an incredible experience and privilege for the four of us and I believe it’s a testament to a band that values individual creativity and independence of mind. We are grateful to each other and very grateful to The Ivors Academy for recognising us with this award.”
Tom Gray, chair of The Ivors Academy said in a statement: “With fearless poetic lyricism always centre-stage in panoramic musical vistas, the sound of U2 has redefined the fabric of popular music. Their songs are sweeping catalysts: hymnals and rallying cries. U2’s induction into Fellowship honours their seminal contributions to music through exceptional songwriting craft.”
Roberto Neri, CEO of The Ivors Academy, added: “We are proud to welcome U2 to Fellowship of The Ivors Academy as era-defining songwriters whose legacy continues to propel musical innovation and inspire social progress. As U2’s politically charged anthems have sparked global change, The Ivors Academy is committed to championing creative integrity with the same unwavering passion. At a time when AI threatens to undermine human creativity, U2’s Fellowship stands as a testament to the irreplaceable role of songwriters and composers in shaping culture and inspiring change.”
U2’s many other awards include the Kennedy Center Honors in 2022 and Amnesty International’s Ambassador of Conscience award.
Here’s a full, updated list of Fellows of the Ivors Academy. Notes: Multiple honorees in a single year are listed alphabetically. Paul McCartney’s team prefers not to list him with his Sir honorific.
2000: Paul McCartney
2001: Sir Malcolm Arnold CBE, John Barry OBE
2004: John Adams, Sir Elton John
2005: David Arnold, Pierre Boulez CBE, Sir John Dankworth CBE, Sir Peter Maxwell Davies CH CBE
2006: Sir Barry Gibb CBE, Maurice Gibb CBE, Robin Gibb CBE
2007: George Fenton
2009: Don Black OBE, David Ferguson
2010: Sir Tim Rice
2012: Sir Andrew Lloyd Webber
2015: Annie Lennox OBE
2020: Joan Armatrading CBE, Julian Joseph OBE
2021: Kate Bush CBE
2022: Peter Gabriel, Judith Weir CBE
2023: John Rutter CBE, Sting
2024: Sir James Macmillan, Bruce Springsteen, Errollyn Wallen
2025: Bono (Paul Hewson), Adam Clayton, The Edge (Dave Evans), Larry Mullen Jr.
MADRID — After a successful First Spanish Music Encounter at the WiZink Center in 2024, Billboard returned to Madrid on Tuesday (March 18) with “Leaders of Music in Spain,” an event that reaffirms its commitment to the country’s music scene. The cocktail event, held at the Hotel VP Plaza España Design, gathered more than a hundred executives, artists, and key industry figures to strengthen ties and boost the global projection of Spaniard music.
Among the attendees were Pino Sagliocco, president of Live Nation Spain; José Luis Sevillano, CEO of AIE; Sandra García-Sanjuán, executive president of Grupo Starlite; Claire Immoucha, head of Amazon Music Spain; Mar García, marketing director of Warner Music Spain; Narcis Rebollo, president/CEO of global talent services at Universal; and José María Barbat, president of Sony Music Iberia. Artists like Rosana, Lela Soto, Natalia Lacunza and Álvaro de Luna also joined the event, sharing their thoughts on the present and future of music in Spain.
On Billboard‘s behalf were Leila Cobo, chief content officer for Latin/Español; Pamela Bustios, senior chart and data analyst for Latin/Español; and Marcia Olival, sales director for US Hispanic, LATAM, and Iberia.
“I’ve always said that Billboard is a bridge between Spanish-language music and the Anglo market. We tell these stories to an audience that doesn’t speak Spanish, but also in Spanish, and with Spain, this idea of a bridge is literal,” Cobo emphasized during the event. “Spain has more streams than ever, ticket sales are extraordinary, and it’s the world’s top music tourism destination. We want to amplify what you do, celebrate you, and be part of your story.”
This expansion of Spaniard music beyond its borders is a reality that resonates within the industry. Alicia Arauzo, general manager of Universal Music, highlighted the importance of these networking spaces to continue building international connections. “Without a doubt, these are great initiatives because, in the end, that’s what it’s all about: Spanish artists are going further and further. It’s something that didn’t happen years ago, and it’s fantastic to be able to cross bridges and have our music reach other territories,” she said.
José María Barbat, president of Sony Music Iberia (left) and Bernardo Miranda, vp A&R at Sony Music Iberia during Billboard’s “Líderes de la Música en España” event on March 18, 2025 in Madrid.
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Held at the Ginkgo Sky Bar — with panoramic views of the Royal Palace, the Almudena, and Plaza de España — the gathering served as a space for networking and dialogue about the industry’s challenges and opportunities.
In conversation with Billboard, Melanie Parejo, head of music for Spotify in Southern and Eastern Europe, emphasized Spain’s importance as a key point within the global ecosystem. “Billboard anchors here, in a country that is the gateway to Europe,” she noted. “Spanish-language music is more interconnected than ever. Gen Z doesn’t care if an artist is from Tenerife or Venezuela, and that’s incredibly powerful.”
For attendees, Billboard‘s presence in Spain represents a validation of the market’s growth and international projection. Rosana, one of the invited artists, expressed her gratitude. “Billboard opened its doors to me 15 days after releasing my first album in the U.S. and Latin America. Now that it has decided to come here, all they makes me want to do is make them feel at home,” she said.
From the business side, Blanca Salcedo, general manager of Sony Music Spain, highlighted the importance of the visibility provided by the platform. “I’d love for this to happen more in Spain,” she said. “The digital world has achieved unity and eliminated barriers.”
Attendees listen to Leila Cobo during Billboard’s “Líderes de la Música en España” event on March 18, 2025 in Madrid.
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For Álvaro de Luna, being part of this celebration was a personal milestone: “Seven years ago, I wouldn’t have imagined being mentioned in anything related to Billboard. It’s a dream.”
The event was made possible thanks to the support of Hotel VP Plaza España Design, Mahou, AIE, Santander SMusic, and Tequila Patrón, which prepared the evening’s special cocktail, the Paloma Patrón.
With “Leaders of Music in Spain,” Billboard continues to bet on strengthening its presence in the country and amplifying the impact of Spanish music globally. “We have total commitment to Spanish-language music, to Spain, and to its industry,” concluded Cobo.