September 13, 2021 |News Articles
RIAA 2021 Mid-Year Music Industry Revenue Report
Recorded music revenues in the U.S. grew 27% in the first half of 2021 versus the prior year, from $5.6 to $7.1 billion at retail value. Paid subscriptions continued to be the strongest contributor to growth, comprising nearly two-thirds of total revenue, averaging more than 80 million paid subscriptions for the first time. The effects of Covid-19 continued to affect the industry, and year-over-year comparisons are significantly impacted by store closures, tour cancellations, and other disruptions from both 2020 and 2021.
Full report can be found here and commentary from RIAA Chairman and CEO, Mitch Glazier, is on Medium.