Tuesday 17 March 2020

Streaming accounts for 80% of US recorded music revenues

"US recorded music revenues grew by 13% year-on-year to $11.1 billion (£8.6bn) at retail value in 2019. It’s the fourth year in a row of double-digit growth.
Americans streamed 1.5 trillion songs during the year, according to the RIAA.
Streaming now accounts for 79.5% of all recorded music revenues, following last year’s 19.9% year-on-year increase to $8.8bn (£6.8bn).
The market increase was driven by subscription streaming in the world’s largest music market. Total subscription revenues of $6.8bn (£5.3bn) were up 25% compared to 2018. Premium streaming now accounts for 61% of all revenues.
One statistic jumps out of the RIAA report: the streaming market alone in 2019 was larger than the entire US recorded music market in 2017.
Subscription services were responsible for 93% of the growth in 2019 streaming revenue. DSPs added an average of one million new subscribers per month in the US, which now has 60 million people paying for services."
Source:  MusicWeek, 26th February 2020



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