{"id":100893,"date":"2024-09-02T13:00:00","date_gmt":"2024-09-02T12:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=100893"},"modified":"2024-09-02T12:36:33","modified_gmt":"2024-09-02T11:36:33","slug":"riaa-reports-record-music-revenues-for-2024-so-far","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/riaa-reports-record-music-revenues-for-2024-so-far\/","title":{"rendered":"RIAA reports record music revenues for 2024 so far"},"content":{"rendered":"\n<p><em>Image credit: <a href=\"https:\/\/unsplash.com\/@gooner\">Vitaly Taranov<\/a><\/em><\/p>\n\n\n\n<h2 style=\"user-select: auto;\"><span style=\"color: #3366ff; user-select: auto;\">Streaming continues to drive growth for the music industry with a little help from vinyl, but growth is a different story.<\/span><\/h2>\n\n\n\n<p>The U.S. recorded music market has reached record levels in the first half of 2024. The <a href=\"https:\/\/www.riaa.com\/\">Recording Industry Association of America (RIAA)<\/a> have revealed <a href=\"https:\/\/www.riaa.com\/reports\/2024-mid-year-music-industry-revenue-report-riaa\/\">figures for 2024 so far<\/a> and whilst things are looking good, the story is a complicated one. <\/p>\n\n\n\n<p>The total U.S. recorded music industry reached a total of $8.65 billion for H1 2024, the highest ever for a year&#8217;s first half. So, you may be surprised to learn that revenue growth is dramatically slower than that of recent years. <\/p>\n\n\n\n<p>To reach its record levels, music revenue grew 3.9% year-on-year in the U.S. for H1. For comparison, the last two years saw 9% and 8.8% growth for the same period. The numbers get even more dramatic for the first half of 2021, when lockdowns drove consumers to stream music and revenues rose 27%.<\/p>\n\n\n\n<p>An area that did see a surprising leap in growth is <a href=\"https:\/\/routenote.com\/blog\/uk-vinyl-sales-highest-since-1990\/\">the continuing resurgence of vinyl<\/a>. Vinyl record sales totalled 24.3 million units across the U.S. in the first half of 2024. That represents growth of 10.7% with a total value of a whopping $739.9 million, a 17% increase in value for the period.<\/p>\n\n\n\n<p><a href=\"https:\/\/routenote.com\/blog\/are-cds-coming-back\/\">CDs are still on a surprising comeback<\/a> but with far more modest growth of just 0.3%. However, streaming remains the leader of music revenues the world over. Total streaming revenue grew 3.8% to $7.3 billion, making up 84.1% of the total revenue.<\/p>\n\n\n\n<p>Paid subscription revenues surpassed $5 billion, growing faster than overall streaming revenue with 5.1% increases on the first half of 2023. The average number of subscribers reached an almost satisfying 100 million, just 1 million too few. <\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Be a part of the huge growth of digital music around the world. Unlock unlimited music distribution with RouteNote. Free global music distribution allows you to reach a global audience on the top streaming services like <a href=\"https:\/\/routenote.com\/spotify#:~:text=You%20can%20distribute%20unlimited%20music,listeners%20all%20around%20the%20world.\">Spotify<\/a> and <a href=\"https:\/\/routenote.com\/blog\/how-to-get-my-music-on-apple-music\/\">Apple Music<\/a>. Earn money from every play and watch your music career grow.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><a href=\"http:\/\/www.routenote.com\"><strong>Sign up for free at www.routenote.com today.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Streaming continues to drive growth for the music industry with a little help from vinyl, but growth is a different story.<\/p>\n","protected":false},"author":12,"featured_media":100901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[1038],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RIAA reports record music revenues for 2024 so far - RouteNote Blog<\/title>\n<meta name=\"description\" content=\"Streaming continues to drive growth for the music industry with a little help from vinyl, but growth is a different story.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/riaa-reports-record-music-revenues-for-2024-so-far\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RIAA reports record music revenues for 2024 so far - RouteNote Blog\" \/>\n<meta property=\"og:description\" content=\"Streaming continues to drive growth for the music industry with a little help from vinyl, but growth is a different story.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/routenote.com\/blog\/riaa-reports-record-music-revenues-for-2024-so-far\/\" \/>\n<meta property=\"og:site_name\" content=\"RouteNote Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-02T12:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-02T11:36:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2024\/09\/vitaly-taranov-OCrPJce6GPk-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"463\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CockJacca\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jacca-RouteNote\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/routenote.com\/blog\/#organization\",\"name\":\"RouteNote\",\"url\":\"https:\/\/routenote.com\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/routenote.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/11\/routenote-logo.jpg\",\"contentUrl\":\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/11\/routenote-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"RouteNote\"},\"image\":{\"@id\":\"https:\/\/routenote.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/routenote.com\/blog\/#website\",\"url\":\"https:\/\/routenote.com\/blog\/\",\"name\":\"RouteNote Blog\",\"description\":\"The World of Digital Music - 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