U.S. recorded music revenue grew 8 percent in 2023, to an estimated record high of $17.1 billion at retail. It was the eighth consecutive year of growth, according to the RIAA, which says streaming continued to be the biggest driver, notching new heights of paid subscriptions, robust growth in ad-supported listening, and healthy increased contributions from new platforms. Streaming accounted for 84 percent of retail revenue, at $14.4 billion including from 96.8 million paid subscriptions. On the supply-side, wholesale revenue grew 7 percent to $11 billion, also a record. Continue reading Streaming Drives U.S. Recorded Music to Record $17 Billion

In its year-end report, the Recording Industry Association of America (RIAA) stated that, in the U.S., recorded music revenues grew 9.2 percent to $12.2 billion at estimated retail value, the fifth consecutive year of growth. Paid subscription services, ad-supported on-demand platforms and digital radio added $10.1 billion in revenue, a 13.4 percent jump. Paid subscriptions to on-demand services such as Apple Music and Spotify represented the majority of recorded music revenue, growing 14.6 percent to $7 billion in 2020. Continue reading Streaming Now Makes Up 83 Percent of Total Music Revenue

A group of U.S. music organizations — including the Recording Industry Association of American (RIAA), the Recording Academy, the National Music Publishers Association, the Music Managers Forum, the American Association of Independent Music, and a dozen more — penned an angry letter to Amazon founder and chief executive Jeff Bezos and Twitch chief executive Emmett Shear. Their complaint is that the Amazon-owned Twitch, a popular live-streaming platform, is not securing synch and mechanical licenses for its Soundtrack tool. Continue reading Music Groups Accuse Twitch of Streaming Unlicensed Music

The Recording Industry Association of America (RIAA) just released a study that revealed the degree to which streaming has the upper hand in music revenue. It now accounts for 79 percent of the industry, having grown 13 percent in 2019 from $9.8 billion to $11.1 billion in retail value. Another promising sign was that revenue from paid subscription services grew 25 percent year-over-year, to $6.8 billion. Such subscription services now account for 61 percent of all U.S. revenue for recorded music. Continue reading RIAA Study Shows Growing Dominance of Streaming Services

At a White House, President Trump signed the Music Modernization Act in a ceremony that was scaled back due to Trump’s monitoring of Hurricane Michael in Florida. The bipartisan act lets songwriters and artists be compensated for pre-1972 recordings, and gives them increased pay for works played on streaming services. In attendance were Kid Rock, the Doobie Brothers guitarist Jeff Baxter, MercyMe, The Beach Boys’ Mike Love, Craig Morgan, John Rich, and Sam Moore. Numerous trade organizations celebrated the new legislation. Continue reading President Trump Signs the Music Modernization Act into Law

As the $7.7 billion U.S. music industry has moved from CDs to streaming, the top venue has become — not Spotify or Pandora — but YouTube, which is responsible for 25 percent of all music streamed. But that’s a problem since accessing music on YouTube is free, and music labels are increasingly unhappy that the platform pays less for songs than other streaming sites, calling it a threat to the music industry. The music industry has begun taking its concerns to regulators, not just in the U.S., but around the world. Continue reading Music Industry, YouTube Battle Over Perceived ‘Value Gap’