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Source: AFP
The US euphony industry passed 100 cardinal paid streaming subscriptions for the archetypal clip successful 2024, according to the latest study from the Recording Industry Association of America released Tuesday.
The US industry's full gross past twelvemonth accrued 3 percent to $17.7 cardinal retail, the study said, up fractional a cardinal dollars from 2023.
Paid subscription services accounted for 79 percent of streaming revenues, and astir two-thirds of full revenues.
Yet streaming maturation has slowed implicit the past 5 years -- successful 2024, it accrued by little than 4 cardinal subscriptions, compared to the leap from 2020 to 2021, erstwhile it spiked by astir 9 cardinal -- a inclination that has pushed music companies to question maturation elsewhere.
Universal, for example, has been touting a "Streaming 2.0" imaginativeness focusing connected avenues similar selling products to superfans.
Music revenues meantime fell 2 percent to $1.8 cardinal connected ad-supported, on-demand services -- examples see YouTube, Facebook and Spotify's ad-supported version.
Indie darling vinyl posted its 18th consecutive twelvemonth of growth, and accounts for astir 75 percent of carnal format revenues that full $2 billion, the RIAA said.
For the 3rd twelvemonth successful a row, vinyl albums outsold compact discs, selling 44 cardinal versus 33 cardinal respectively.
Vinyl's popularity has grown steadily successful caller years, fueled by collectors and fans nostalgic for the lukewarm crackle that emanates from Side A and Side B.
The yearly study from the International Federation of the Phonographic Industry, which represents planetary grounds companies, is owed connected Wednesday.
Source: AFP
