Spain's recorded music market grew by 9.42% in 2024, generating €568.85 million ($598.13 million) in revenue, according to data from Promusicae. Here's a detailed breakdown of the market performance:

Streaming Performance:

• Audio streaming: €376.39 million ($395.69 million), up 14.1% YoY
• Video streaming: €73.78 million ($77.59 million), up 7.5% YoY
• Total streaming share: Nearly 80% of total revenue
• Paid subscriptions: 6.8 million users
• Streaming penetration: Over 40% of Spain's 48.3 million population

Physical Format Sales:

• Overall physical revenue: €53.84 million ($56.61 million), down 13.3% YoY
• Vinyl: €33.86 million ($35.60 million), down 3.8% YoY
• CDs: €19.67 million ($20.68 million), down 25.4% YoY
• Other formats (including cassettes): €162,000 ($170,369), down 37.3% YoY

Other Revenue Streams:

• Digital downloads and ringtones: €4.37 million ($4.59 million)
• Broadcasting, public performance, and private copying: €56.31 million ($59.22 million), up 12.6% YoY

While this represents Spain's highest recorded revenue since 2004, it remains below the 2001 peak. Promusicae's president, Antonio Guisasola, emphasized future focus on increasing subscriptions, reducing piracy, and securing stronger public-sector support.

Note: Promusicae plans to transition to trade value reporting to align with IFPI's Global Reporting Standards, with historical data to be restated accordingly.

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