The article from MusicWatch, authored by Russ Crupnick, highlights a robust state in the US music industry, with a focus on consumer spending growth. Key statistics reveal that 132 million Americans are paying for music subscriptions, and per capita spending on recorded music has increased by 10%. Noteworthy trends include rising sales of vinyl records, significant attendance at live events, and an overall healthy consumer market for music. Despite the positive news, the report also acknowledges ongoing issues like music piracy, with 14 million users still engaging in stream-ripping practices.
In 2024 more than half of Americans aged 13-70 purchased a CD, download, vinyl, or an on-demand or non-interactive subscription (not including satellite radio). Americans spent $112 per capita on recorded music, up from $102 in 2023.
Yes, the number of vinyl buyers continues to grow, but vinyl is only purchased by 1 in 14 Americans (7 percent). A cocktail party statistic: more of us pay for audiobooks these days than for records.
Fourteen million admitted to stream-ripping music files during 2024. Music piracy isn't the scourge it was 20 years ago, but it's still happening.
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