Overview

• 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.