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Facts & Research

ALL MUSIC FACTS

2024

2023 Year-End Music Industry Revenue Report | RIAA

Recorded music revenues in the U.S. in 2023 continued strong growth for the eighth consecutive year. Total revenues grew 8% to a record high $17.1 billion at estimated retail value. Streaming continued to be the biggest driver of growth with record levels of engagement in paid subscriptions, continued growth in ad-supported revenues, and growing contributions from new platforms and services. At wholesale value revenues grew 7% to a record high of $11 billion.

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