The market we earn from
keeps growing.
Public figures for the global music and hip-hop economy over recent years. Each number is a link where Off the Record holds a share.
A decade of uninterrupted growth
Global recorded music revenue nearly doubled in ten years, driven by paid streaming.
Global recorded music revenue
US$ billions, IFPI
Paid streaming subscription accounts
Millions, worldwide, IFPI
Where recorded revenue comes from, 2024
Share of global revenue, approximate, IFPI
Live entertainment: Live Nation revenue
US$ billions, company reports — the live market collapsed in 2020 and came back larger
The genre that leads consumption
Largest US genre since 2017
R&B/hip-hop overtook rock as the most-consumed genre in the United States in 2017 and has held roughly a quarter of all US listening since.
Nielsen Music / Luminate
Super Bowl LIX halftime viewers
Kendrick Lamar’s 2025 halftime show was reported as the most-watched in history.
NFL / Apple Music, 2025
Beats sold to Apple
Dr. Dre and Jimmy Iovine’s headphone company, a hip-hop brand turned tech asset.
Apple, 2014
Vitaminwater deal
Coca-Cola’s purchase of Glacéau, where 50 Cent held equity instead of a fee.
Coca-Cola, 2007
Players at an in-game concert
Travis Scott’s Astronomical event in Fortnite showed gaming as a new music venue.
Epic Games, 2020
Years of hip-hop
The culture marked its 50th anniversary in 2023 — from a Bronx block party to the world’s leading genre.
Growth is spread across the chain — so is our portfolio
Streaming
More paid accounts every year feed the labels, distributors and royalty shares we hold.
Live
Concert revenue is now larger than before 2020; our stakes in agencies, festivals and clubs share in it.
Brands & platforms
The biggest hip-hop paydays came from brands and technology — the engine behind our platform stakes.
Sources and notes
IFPI Global Music Reports (2016–2025 editions); Live Nation Entertainment annual reports; Nielsen Music and Luminate year-end reports; NFL and Apple Music press releases; Apple Inc. and The Coca-Cola Company announcements; Epic Games. Figures are rounded and shown for illustration; the revenue split by format is approximate. Please check the latest editions of these reports before relying on any figure.