In 2024, the global number of music creators reached 75.9 million, showing a 12% increase from 2022, and is projected to grow to 198.2 million by 2030.
Will Page highlighted that more music is being released today in one day than in the entire year of 1989, reflecting a shift towards independent music creation.
While independence for musicians has increased, it also means facing challenges such as reduced earnings from streaming and a shift toward subscription-based music-making tools.
The report notes that as the industry evolves, a significant portion of revenues from music software is becoming reliant on subscriptions, indicating a potential change in the financial landscape for creators.
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