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Paid Streaming Hits 100 Million Milestone as U.S. Recorded Music Revenue Growth Slows to 3%: RIAA

In RIAA's 2024 year-end music report, U.S. revenue was up as streaming subscriptions and vinyl sales grew, with total revenue up 3% to $17.7 billion.

The organization noted that this marks the first year of direct reporting from independent labels, including sync revenue estimates from indie sources. RIAA chairman & CEO Mitch Glazier highlighted the “historic milestone” of over 100 million paid subs driving two-thirds of revenues, calling it an “extraordinary achievement by an industry that has successfully focused on its creative and commercial core by championing innovative new services, options, and experiences that add real value for fans.” Glazier added: “Music has never been more dynamic, compelling, and relevant – reaching out beyond our earbuds with conversation-driving cultural touchstones like unforgettable halftime performances, historic television moments or must-see films and biopics.

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