October 2023 |Sales & Revenue
2021 Year-End Music Industry Revenue Report | RIAA
In 2021, recorded music revenues in the United States grew 23% to $15.0 billion at estimated retail value. All major formats of music grew versus the prior year with the exception of digital downloads. Paid subscriptions continued to be the biggest growth driver, resulting in the sixth consecutive year of growth for music revenues. At wholesale value 2021 revenues were up 22% to $9.8 billion. On a nominal basis, these revenue levels exceed the record high of $14.6 billion reported in 1999, but adjusted for inflation 2021 figures remain 37% below that value level.
More on the 2021 numbers from RIAA Chairman & CEO Mitch Glazier here.
DOWNLOAD THE FULL REPORT HERE.