With growth of 9.3% year-over-year, RIAA’s mid-year report demonstrates the power and vitality of the U.S. music business.
, reflecting 9.3% growth over the first half of 2022 — the ninth straight year of positive growth.
In fact, paid subscription services were responsible for nearly two-thirds of total revenues and more than three-quarters of streaming revenues. And they continued to grow at an even faster rate than ad-supported revenues. And digital and customized radio music revenues, which include SoundExchange distributions for revenues from services like SiriusXM and internet radio stations, grew 16% to $657 million for the period.
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