We present the IEEE-IS2 2024 Music Packet Loss Concealment Challenge. We begin by detailing the challenge rules, followed by an overview of the provided baseline system, the blind test set, and the evaluation methodology used to determine the final ranking. This inaugural edition aimed to foster collaboration between researchers and practitioners from the fields of signal processing, machine learning, and networked music performance, while also laying the groundwork for future advancements in packet loss concealment for music signals.