Streaming accounted for 84% of all revenue in 2022, the Recording Industry Association of America has reported. The U.S. recorded-music business pulled in an all-time high of $15.9b in estimated retail value.
“2022 was an impressive year of sustained ‘growth-over-growth’ more than a decade after streaming’s explosion onto the music scene,” said RIAA Chairman & CEO Mitch Glazier. “This long and ongoing arc of success has only been possible thanks to the determined and creative work of record companies fighting to build a healthy streaming economy where artists and rightsholders get paid wherever and whenever their work is used.”
Recorded music revenues in the U.S. in 2022 continued to grow for the seventh consecutive year. Total revenues grew 6% to a record high $15.9 billion at estimated retail value. Streaming continued
to be the biggest driver of growth with record levels of engagement in paid subscriptions, continued growth in ad-supported format revenues, and growing contributions from new platforms and services. Streaming grew 7% to $13.3 billion, and comprised 84% of revenues in 2022. The number of paid subscriptions to on-demand music services grew 10% to reach a new high, averaging 92.0 million in 2022, versus 84.0 million the prior year. At wholesale value revenues grew 5% and exceeded $10 billion for the first time ever.
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