The U.S. music streaming sector achieved a significant milestone, surpassing 100 million paid subscribers for the first time in 2024, according to the RIAA. This increase reflects a 3% growth from the previous year. Spotify remains the leading service with 36% market share, while Apple Music holds 30.7%. Streaming revenue made up an enormous 84% of total music revenue, capturing $14.9 billion, driven largely by paid subscriptions, which rose 5% year-on-year. Price increases in subscriptions have also contributed to this revenue growth, highlighting a robust market.
Spotify dominated the U.S. music streaming market with a 36% share, followed closely by Apple Music at 30.7%, leading to a competitive industry landscape.
The growth in paid subscriptions has led to a significant increase in streaming revenue, which accounted for 84% of total music revenue in 2024.
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