According to inflation-adjusted data from the Recording Industry Association of American, total recorded music revenues in 2020 were $12.2 billion, which is approximately 46.2% lower than the industry’s 1999 peak-year total of $22.7 billion. That strongly challenges assumptions that the music industry has already completed its return to glory.
Source: U.S. Recorded Music Revenues Are Still 46% Below 1999 Peaks