The music industry has been reshaped in the last decade by the emergence of streaming services like Spotify and Apple Music. This business model has facilitated users' access to different musical styles, implementing subscription models, and displacing other forms of consumption.

Driven by this model, the music industry reached a size of USD 29.6 billion in 2024, consolidating a decade of high growth. In this context, Brazil was also a leading player, remaining the 9th largest music market in the world and one of the fastest-growing that year.

With this growth, significant transactions have shaped the sector in recent years. Recent highlights include Hellman & Friedman shelling out approximately USD 3.3 billion for Global Music Rights; Sony investing approximately USD 1.3 billion in Queen's catalog; and Universal expanding its vertical presence in the segment with the purchase of Downtown for approximately USD 775 million.

Today's pill analyzes the recent evolution of the global music industry, Brazil's position in this scenario, and the transactions that have been transforming the sector.