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RIAA HAS SOME GOOD NEWS TO SHARE

Recorded-music revenues in the U.S. grew to $7.1b in retail value in the first half of 2021, a 27% spike over 2020, the RIAA reported. Paid subscriptions led the way, comprising nearly two-thirds of total revenue.

Including ad-supported services, customized radio, Facebook licenses and digital fitness apps, streaming accounted for 84%—$5.9b—of the revenue. The segment was up 26%.

Americans listened to more than 840b on-demand streams in the first half of the year, a record for any six-month period in history.

Vinyl continues to blossom as a category, growing 94% to $467m and accounting for two-thirds of the physical marketplace. Revenue from CDs was up 44% to $205m.

Digital and customized radio service revenues grew 3% to $585m.

“These powerful results reflect a core truth about the ways we connect with music today—as a sustained and ongoing relationship where a steady stream of listening and discovery on different devices and services is with us all day long, powering a creative and commercial renaissance,” Mitch Glazier, the RIAA Chairman and CEO, wrote on Medium. “One with continued new opportunities and headroom for growth and success for artists and their label partners.”

The effects of COVID-19 continued to affect the industry, and year-over-year comparisons are significantly impacted by store closures, tour cancellations and other disruptions from both 2020 and 2021.

The full report is here

 

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