Enterprise remains to be booming for music streaming companies, which crossed the 100 million US subscriber mark in 2024, in keeping with the Report Business Affiliation of America’s (RIAA) newest income report. General gross sales had been additionally bolstered by bodily media, which is rising at a barely quicker fee than digital, thanks largely to repeatedly growing vinyl gross sales.
“Paid subscriptions, ad-supported companies, digital and customised radio, social media platforms, digital health apps and others grew 4% to a document excessive $14.9 billion in income,” writes the RIAA. That’s about half a billion {dollars} greater than the earlier yr’s take.
In the meantime, vinyl, which skilled a 7 % progress and has now outsold CDs for the third consecutive yr, pulled in $1.4 billion of an general $2 billion spent on bodily media. CD income was up by a %, incomes $541 million for the yr. Digital downloads had been down by 14.9 % versus final yr and make up simply two % of the general take.
