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.