In RIAA's 2023 year-end music report, revenue was up as streaming and vinyl sales grew, with revenue up 8% to $17.1 billion over 2022.
inmusic industry revenue trends. Streaming has dramatically increased its share of U.S. music industry revenue, making up 84 percent in 2022, up by almost 20 percent from the figure recorded in 2017. Meanwhile, the share of music revenue generated by physical sales has decreased in equal ...
contributed “significantly” to overall revenue growth. He also said the music industry’s recovery from its lows of a decade ago wouldn’t have been possible without “record companies’ sustained investment in artists and their careers.” ...
In 2023, the total revenue of the recorded music industry amounted to 28.6 billion U.S. dollars. Global streaming revenues reached 19.3 billion U.S. dollars in the same year. Overall, recorded music increased by 10 percent, representing a steady growth rate compared to the previous year. Mus...
The 2023 IFPI Global Music Report shows growth over the past year was driven by streaming. How much did the music industry make in 2022?
Over the last 20 years, streaming took over the music industry. Digital music revenues comprised 89% of the U.S. music industry’s revenue in 2022. Streaming services like Spotify, Amazon Music, and Apple Music made up 84% of the total industry revenue. The number of paid subscriptions to...
Cost of revenuesdecreased by 8.2% year-over-year toRMB17.96 billion(US$2.53 billion). The decrease was mainly due to decreased revenues from social entertainment services leading to lower revenue sharing fees, partially offset by the increase in content costs of royaltie...
IndustryMusic streaming YearRevenue ($bn) 20110.26 20120.41 20130.63 20140.91 20151.16 20161.38 20171.46 20181.56 20191.72 20201.69 20212.07 20222.09 20232.11 Sources:Music App Report, Company data Pandora profit SiriusXM posted $638 million gross profit for Pandora in 2023, its third year of annual profi...
The Recording Industry Association of America (RIAA) mid-year 2023 report shows that the industry hit new revenue milestones in its ninth consecutive year of growth. Total recorded music revenues grew 9.3%, hitting an all-time first-half-of-the-year high of $8.4...
As we continue to shape and propel the music industry's robust development, we are excited about its vibrant growth potential for years to come. The fourth quarter recorded accelerated year-over-year growth in music subscription revenue, anchored by consiste...