Global Music Market Shows Growth, British Artists Struggle to Break Top 10, Austrian Acts Find International Success

The global music market experienced a 7% growth in 2024, according to the IFPI. Streaming platforms saw a 16% increase, with 20 billion song streams. Physical record sales rose by 6.5%, and music licensing for film and advertising surged by 60%. British pop artists faced challenges in 2024, failing to secure a spot in the year's top 10 best-selling singles or albums globally for the first time in over two decades. This occurred despite releases from prominent artists like Coldplay, Dua Lipa, and Charli XCX. Benson Boone's "Beautiful Things" topped the songs chart, while Kendrick Lamar and Hozier also secured spots in the top 10. Austrian music consumption increased by 7%, reaching a total turnover of 254 million euros. Taylor Swift's "The Tortured Poets Department" was the most successful album of the year. Austrian artists are increasingly leveraging streaming platforms to reach international audiences. RAF Camora, Toby Romeo, RIAN, OSKA, Josh., Melissa Naschenweng and Andreas Gabalier have achieved significant success through streaming and social media.