More music is released in a day in 2024 than in all of 1989 combinedIf you think that there’s too much music coming out and not enough time to listen to it all, it turns out that’s not an illusion. A new report has found that more music is released in a single day now than in the entirety of 1989.

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The finding was confirmed in the MusicRadar report by music business economist Will Page, the former Chief Economist of Spotify.
“More music is being released today (in a single day) than was released in the calendar year of 1989,” Page explains. “More of that music is being done by artists themselves, meaning there’s even more demand for music production software.”
While this finding does put into perspective just how saturated the musical climate is nowadays, it’s perhaps not surprising given how much music has been democratised  in recent years thanks to technological progress. It’s easier than ever to make and share high quality music from your bedroom, even without label backing, and it’s also brought down the cost – and subsequently, the industry’s barriers to entry.
According to the MIDiA’s “State of the Music Creator Economy” report, there were 75.9 million global music creators in 2023, which increased 12 per cent from 2022.  By 2030, that number is predicted to hit 198.2 million.
This might be great for consumers with infinite choice of what to listen to for minimal cost on streaming services, but it’s consequently harder for artists to stand out. Money remains an issue thanks to the miniscule payments streaming services make and the rising cost of music-making as more and more software, plugins, and other tools switch to subscription-based models. The effect, according to the report, is that “fatigue and resentment [is] on the rise.”
According to MIDiA, “a quarter of software, sound, and services revenues” in 2022 came from subscriptions, which is expected to increase to one-third by 2030.
“Software companies have followed the lead set by Wall Street. Recurring revenue is very sexy right now,” says  Steve Heithecker of Pyramind Institute in the report. People often also forget they have the subs and then it’s a bit like free money for these companies when they auto renew.”
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