Streaming overtakes live as music’s fastest-growing sector with 18% revenue jump in 2024 [IMS Ibiza 2025 Report

Streaming revenue rose 18% in 2024, surpassing live music growth and confirming its dominance as the leading sector.

During the unveiling of the IMS Business Report 2025 at IMS Ibiza, industry leaders confronted a major shift in momentum: streaming has now overtaken live music as the fastest-growing sector. This year’s data makes it official—2024 marked the first time that digital service providers (DSPs) recorded higher growth than any other industry segment.

Streaming didn’t just grow – it redefined the pace and priority of the entire industry

Streaming revenue rose by 18%, eclipsing the live sector’s more moderate increase, which has now stabilized following its dramatic post-pandemic rebound. Collectively, revenues across 16 leading music companies—including publishers, DSPs, labels, and promoters—grew by 8%, signaling continued expansion, albeit at a slower rate than the boom years of 2021 and 2022.

The report frames this not just as a financial pivot, but a structural one. As fan behavior shifts further into digital ecosystems, streaming platforms now influence everything from discovery to artist development to release strategies. Their scale, infrastructure, and direct connection to listeners have positioned them at the center of the music business.

While live events remain emotionally irreplaceable, the numbers tell a new story: growth now comes from screens, not stages.

You can download the IMS Business Report, written by Mark Mulligan and MIDiA research here.