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U.S. recorded music revenue hit new high ($17B) in 2023, but not when adjusted for inflation; streaming rules.

The Recording Industry Association of America released 2023 sales metrics, showing total revenue, inflation-adjusted revenue, and earnings by music format. The at-a-glance story shows rocketing upward revenue (see below), but that glance does not adjust for inflation.

GREEN = streaming. ORANGE = CD/ LIGHT BLUE = Cassette. DARK BLUE = LP.

The inflation-adjusted snapshot is below, and shows 1999 as the American music industry’s revenue high point:

GREEN = streaming. ORANGE = CD/ LIGHT BLUE = Cassette. DARK BLUE = LP.

Total recorded music revenue in the U.S. for 2023 totalled $17.1-billion, with paid subscriptions to music services representing more than half, as illustrated below:

Streaming as a whole contributed 84% of total 2023 revenues:


Brad Hill

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