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U.S. Recorded Music Revenue Rose 3.9% to $8.65 Billion in First Half of 2024: RIAA
RIAA says U.S. recorded-music revenues rose slightly (3.9%) in the first half of 2024.
The average number of subscribers reached 99 million, up just 2.6%, suggesting record labels benefitted from price increases by Spotify and other services. “Spanning multiple licensing avenues from fitness apps to short-form video, artists and labels are embracing innovation with responsible partners so more Americans can engage with their favorite music however, whenever and wherever they choose,” he said. “This sustained growth fuels innovation and reflects music’s incredible value, laying the foundation for a healthy creative ecosystem where artists’ and songwriters’ visions can flourish over generations.”
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