U.S. Music Industry Reaches 100 Million Paid Streaming Subscribers in 2024
Streaming accounted for 84% of U.S. music revenue, while vinyl sales continued an 18-year growth streak, outselling CDs for the third consecutive year.
- The U.S. music industry reached an all-time high of $17.7 billion in retail revenue in 2024, a $500 million increase from the previous year.
- Paid streaming subscriptions surpassed 100 million, contributing $11.7 billion and representing 79% of streaming revenues.
- Streaming growth slowed to 3% year-over-year, prompting industry efforts to explore new revenue models like higher-priced subscription tiers and targeting superfans.
- Vinyl sales grew for the 18th straight year, generating $1.4 billion and accounting for nearly three-quarters of physical music revenue.
- Ad-supported streaming revenues declined by 2%, while digital downloads continued their downward trend, falling nearly 15% to $369.7 million.
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