The Spanish recorded music market grew 9.42% in 2024, generating €568.85 million ($598.13 million) in revenue, according to industry body Promusicae.

Streaming dominated the market, accounting for nearly 80% of total revenue. Audio streaming grew 14.1% to €376.39 million ($395.69 million), while video streaming increased 7.5% to €73.78 million ($77.59 million). Spain now has 6.8 million paid streaming subscribers, with over 40% of the country's 48.3 million population streaming music in some form.

Physical format sales declined 13.3% to €53.84 million ($56.61 million):

• Vinyl: €33.86 million ($35.60 million), down 3.8%
• CDs: €19.67 million ($20.68 million), down 25.4%
• Other formats (including cassettes): €162,000 ($170,369), down 37.3%

Digital downloads and ringtones continued their decline, bringing in just €4.37 million ($4.59 million). Broadcasting, public performance, and private copying revenue grew 12.6% to €56.31 million ($59.22 million).

While 2024's results mark Spain's highest recorded revenue since 2004, the market remains below its 2001 peak. Promusicae President Antonio Guisasola emphasized future focus on increasing subscriptions, reducing piracy, and securing stronger public-sector support.

Starting next year, Promusicae will transition to trade value reporting to align with IFPI's Global Reporting Standards, with historical data to be restated accordingly.

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