MIDiA forecasts that global recorded-music revenue will rise from $74.3 billion in 2025 to $121.1 billion by 2033, a 62.9% increase. Streaming is expected to remain the main growth driver, but the report says labels will increasingly rely on expanded rights such as branding, merchandise and live-event income as subscription markets mature.

The report estimates the broader “fan economy” could be worth $18.5 billion by 2033, including physical sales and music income from social, fitness and gaming platforms. Retail revenue is forecast to reach $62.7 billion and grow faster than trade revenue, partly because streaming services retain more income from bundled offerings; MIDiA also expects subscription pricing changes eventually to revive average revenue per user.