News

Recorded music revenues grew by 4% to $8.7 billion in estimated retail value and streaming subscriptions were up 3% to 99 million over the first half of 2024 – both record highs as streaming continues to post strong growth entering its third decade in the US. Fans today discover and listen to music in more ways than ever, and this report captures revenue from the highest number of sources in our history. While paid subscriptions contributed nearly two-thirds of the added value in this period, vinyl shipments accelerated faster than any other major music format at 17%. At wholesale value, total revenues grew by 3% to a record high of $5.5 billion.

Read the full report here and commentary in Medium.