In 2024, the music industry didn’t just grow; it exploded.
According to a new report from MusicRadar, more music is released in a single day in 2024 than in the entire year of 1989.
Advances in technology and distribution have fueled this explosion. Artists don’t need massive, multi-million studios to record songs anymore. According to MIDiA’s “State of the Music Creator Economy” report, the global number of music creators grew to 75.9 million in 2023, a 12% jump from the previous year, with projections of reaching 198.2 million by 2030.
Of course, this democratization of music-making brings opportunities and challenges. While artists enjoy more creative freedom, financial instability looms large both for music labels and artists trying to make it their career. Streaming platforms pay fractions of a penny per stream, so even successful streaming artists aren’t able to live on the income that the music itself generates.
The sheer volume of music flooding platforms makes it harder for artists to stand out and find fans. In 2023, 45.6 million songs on streaming services received zero plays, which was 24.8% of the total number of tracks available.
Thankfully, some artists have more success than others, and niche genres like the Christian indie scene have found ways to thrive among the noise. For most musicians, though, the struggle to be heard is real — and it’s only getting harder.
