RIAA REPORTS $10B IN U.S. SUBSCRIPTION STREAMING REVENUE

The RIAA has published its full-year 2022 earnings report, which includes all product categories, from CDs and vinyl to downloads to subscription and ad-supported streaming.

Streaming platforms grew 7% year-over-year, amounting to $13.3b. Roughly 75% of that was subscription streaming revenue, which totaled more than $10b. Approximately 92m subscription accounts were tallied by the RIAA, representing nearly 10% growth year-over-year. Revenue from advertising-supported on-demand services (such as YouTube and the ad-supported versions of Spotify, Facebook and others) was up 6% to $1.8b. Ad-supported services contributed 11% of total 2022 recorded-music revenue. Streaming as a whole made up 84% of total recorded-music earnings in the U.S.

Overall, the U.S. recorded-music market grew 6% from 2021 to $15.9b.

Find the full report here while we're reminded, once again, how horrible we are at math.