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Recorded music attains new revenue record; streaming grows from 75% to 84%

The recorded music industry reached an all-time high in total revenue for the first half of 2023 — $8.3-billion across all reported categories. That from the Recording Industry Association of America (RIAA) in its annual mid-year report.

Key Points

 

 

A three-year comparison on H1 results shows accelerating overall revenue growth:

 

While digital and streaming grab headlines, the most eye-popping percentage growth is in synchronization royalties — a different type of recorded revenue which does not reflect direct-to-consumer sales. That number jumped 25.1%, to $222-million.


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