Report: China's 2024 music industry close to 500 billion yuan

　　 On June 6, the 10th Music Industry Forum 2025 was held in Beijing. The forum released the "2025 China Music Industry Development Annual Report," revealing that the total scale of China's music industry in 2024 reached approximately 492.915 billion yuan (about $68.57 billion), marking a 4.97-percent increase compared to the previous year. This signals that the industry has emerged from a challenging period and entered a phase of stable growth.

　　The report noted that despite downward economic pressure and external risk challenges, China's music industry has achieved industrial upgrading and tapped domestic demand through cultural creativity and technological innovation. The growth rate has returned to around 5 percent. Overall, the data indicates that the industry continues to develop steadily, with accelerated transformation and upgrading. However, structurally, the industry still presents both opportunities and challenges. With ongoing technological advancements and deeper structural adjustments, the report anticipates that China's music industry will enter a new phase of intelligent and high-quality development.

　　According to market segment data disclosed in the report, the scale of live music performances reached 38.733 billion yuan, with an impressive growth rate of 46.61 percent – the fastest and most eye-catching among all segments. This significantly surpasses the industry average and signals a strong recovery and boom in the offline performance market. Digital music accounted for 102.746 billion yuan, making it the largest single segment at approximately 20.8 percent of the overall industry, with a steady growth rate of 15 percent. Meanwhile, the combined market of music for film, gaming and animation reached 965 million yuan, with a growth rate of 15.16 percent – second only to live performances. This reflects the increasingly close integration between music and other entertainment formats, as well as their rapid development.

　　The "2025 China Music Industry Development Annual Report" was compiled by a research team led by Zhao Zhi'an, director of the Music Industry Development Research Center at the Communication University of China. It is an annual report that has been successfully published for 10 consecutive years since its inception in 2014.