News
September 18, 2023 | Press Statements
RIAA Mid-Year 2023 Revenue Report
Recorded music revenues reached an all-time first half high of $8.4 billion in 2023, growing 9.3% at estimated retail value. Streaming continued to flourish at $7.0 billion, and accounted for 84% of the first half total, with paid subscriptions still the strongest driver of revenue growth, increasing by more than $550 million and averaging 96 million subscriptions during the period. Physical music formats reached the highest level since 1H 2013 with vinyl albums outselling CDs in units for the third consecutive year.
Read the full report here, and commentary from RIAA Chairman & CEO Mitch Glazier here.