In the recently released U.S. music revenue report from the RIAA (Recording Industry Association of America), we see that the streaming channel accounted for 84% of earnings. That metric (and all others in this report) is for the first half of 2024 (H1).
In a more exacting metric of the same period, revenues from paid subscription services grew 4% to $5.7 billion and accounted for 78% of streaming revenues – nearly two-thirds of total mid-year revenue.
Total revenue for U.S. recording in H1 was $8.67 billion. (See the graphic below.) In that encompassing revenue bucket, physical formats accounted for only 12%, while digital (which is mostly streaming but also includes music downloads and ringtones) came to 88% at $881 million.
Streaming as a channel has grown in dollars year over year, and the RIAA breaks out streaming types:
For the most complete breakdown of first-half U.S. recorded music value, see the graphic below.
