Streaming = 84% of U.S. recorded music revenue as total inches up in first half

In the first half of 2024, streaming accounted for a staggering 84% of total music revenue in the U.S., emphasizing its dominance in the industry.

Paid subscription services grew by 4%, reaching $5.7 billion, signifying their critical role, making up 78% of streaming revenues and nearly two-thirds of overall revenue.

The total revenue for U.S. recorded music in H1 2024 was $8.67 billion, with digital formats encompassing 88% of that figure, highlighting the shift to digital consumption.

Physical formats represented only 12% of total revenues, showcasing the ongoing decline of physical media in favor of digital and streaming services.

Read at RAIN News