The RIAA’s mid-year report found that record music revenue in the United States grew by 277% in the first half of 2020. Subscriptions continue to be the strongest contributors to growth, accounting for nearly two-thirds of total revenue and more than 80 million paid subscriptions for the first time. Retail revenue rose from 5. 5.6 billion to 1 7.1 billion. Wholesale price revenue rose 25% from 7 7.7 billion in the first half of 2020 to 6. 6.6 billion in the same period in 2021.
Of course, year after year the statistics are isolated by the epidemic, which has had a devastating effect on the industry in the form of store closures, tour suspensions and cancellations and other disruptions.
Streaming accounted for 84% of all revenue, an increase of 26% year-on-year to 9 5.9 billion, mainly due to new licensing agreements with companies like Facebook and digital fitness apps like Peloton. Paid streaming subscription revenue accounted for a total of $ 4.6 billion – also 26% – and accounted for 78% of overall revenue. Subscriptions for on-demand music services rose 13% to a record 82.1 million in the United States, from 72.6 million in the same period in 2020.
Limited-level subscription revenue rose to $ 452 million, up 10% from streaming dollars, while ad-supported revenue rose to 1 741 million from 54% last year. Digital and customized radio with sound exchange distribution from 3% to 5 585 million.
Sales of vinyl have risen from 4% to 46 46 million, although that number dramatically closed stores during the epidemic and severely affected last year’s record store call, traditionally the biggest sales day of the year. Revenue from CDs rose 44% to $ 205 million, but is still 19% lower than in the same period in 2019. . Digital download sales revenue continued to decline, down 6% to $ 319 million, as digital track sales revenue (down 12%) and digital album sales revenue (down 4%).
Looking at the overall pie chart, streaming revenue is 84%, physical sales 10%, digital download sales 5% and sync 2%.
RIAA Chairman / CEO Mitch Glazier said in a medium post, “Music led to wealth and comfort in the wake of the Cowid crisis – retaining the livestream fundraiser, creating the MusicCOVIDRelief.com support portal and fighting in Congress for artists, musicians, lyricists, and Space – We will continue to lead from these recent twists and turns.
“Whether it’s working for new support for manufacturers, following relief at the venue to make sure it meets their needs, or supporting public education and safe reopening of electricity, our community will be there – sharing stories and moments to inspire. Make, improve, and connect. ”