Where The Music Plays

The U.S. is followed by Japan, which been the No.2 for the past four decades except for 2010, when it briefly dethroned the US.

The Japanese music market is still dominated by physical sales, which accounted for almost 60%  of total revenues in the country last year. Streaming accounted for 40% of Japanese music revenues, compared to 70% globally and 71% in the U.S.

The UK is No.3

South Korea and China have climbed the rankings in recent years. Germany and France consistently rank among the top markets.

Latin America has recently been gaining ground, with Brazil and Mexico entering the top ten.According to Luminate, both countries trailed only the U.S. in terms of paid streams and premium streaming growth last year, explaining their rise towards the top.

Taken together, these trends underscore a broader shift in the global music landscape: while legacy markets remain dominant, growth is increasingly driven by emerging regions.

As streaming continues to lower barriers to access and distribution, the industry is becoming more geographically diverse, reshaping where the music plays, and who is listening