U.S. Recorded-Music Revenue Grows Almost 10% But Streaming Subscriptions Level Off

The U.S. music industry continued its robust growth in the first half of 2023, according to the RIAA’s latest mid-year report. Total revenues grew 9.3% at estimated retail value, reaching an all-time first-half high of $8.4 billion; at wholesale value, revenues grew 8.3% to $5.3 billion. Paid streaming subscriptions continued to be the strongest driver of revenue growth, according to the report, increasing by more than $550 million and growing to around 96 million subscriptions during the period.

Source: U.S. Recorded-Music Revenue Grows Almost 10% But Vinyl Sales, Streaming Subscriptions Level Off

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