Streaming accounted for 84% of the music industry's revenue in 2022

AppleInsiderAppleInsider
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Paid streaming services like Spotify and Apple Music continue to dominate the music industry's revenue sources, with an increase to 92 million paid subscriptions as of the end of 2022.

RIAA report
RIAA report


The Recording Industry Association of America (RIAA) has released its annual recorded music revenue report, and streaming services accounted for 84% of revenue. Paid subscription service revenue increased 8% to $10.2 billion in 2022, breaking the $10 billion mark for the first time.

More people were willing to pay for a music streaming subscription as revenue from ad-supported services, such as YouTube and Spotify, grew slower than in previous years. These ad-supported services grew 6% to $1.8 billion in revenue.




"2022 was an impressive year of sustained 'growth-over-growth' more than a decade after streaming's explosion onto the music scene," said RIAA Chairman & CEO Mitch Glazier. "Continuing that long run, subscription streaming revenues now make up two thirds of the market with a record high $13.3 billion."

RIAA notes that vinyl records are making a comeback, and these types of albums outsold CDs in units for the first time since 1987. As a result, total revenue from physical music formats was up 4% to $1.7 billion.

Revenue from digital and customized radio music was minuscule in comparison, growing 2% to $1.2 billion in 2022. Digitally-downloaded music, like iTunes music sales, continued to decline in revenue for 2022, down 20% to $495 million.




Downloads accounted for just 3% of US recorded music revenues in 2022, down from a peak of 43% in 2012. Sales from digital albums and individual songs were down 20% to $242 and $214 million, respectively.

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Comments

  • Reply 1 of 9
    danoxdanox Posts: 2,872member
    You will own nothing and be happy, every DVD and every CD that I have, I will hold on tight until the end.
    zeus423williamlondon
  • Reply 2 of 9
    lkrupplkrupp Posts: 10,557member
    Just spoke with a friend whose collector son passed away and she was dealing with over 15,000 78RPM records she needed to dispose of. Luckily someone came and picked them all up. He also had 14,000+ electronic vacuum tubes stashed in his basement.

    danox said:
    You will own nothing and be happy, every DVD and every CD that I have, I will hold on tight until the end.
    And you probably haven’t stuck any of them in a player in years, right?
    edited March 2023 FileMakerFeller
  • Reply 3 of 9
    Armoured_BearArmoured_Bear Posts: 4member
    lkrupp said:
    Just spoke with a friend whose collector son passed away and she was dealing with over 15,000 78RPM records she needed to dispose of. Luckily someone came and picked them all up. He also had 14,000+ electronic vacuum tubes stashed in his basement.

    danox said:
    You will own nothing and be happy, every DVD and every CD that I have, I will hold on tight until the end.
    And you probably haven’t stuck any of them in a player in years, right?
    Yeah, that didn't happen.

    Also, artists have never received so little for their work in history, enjoy your smug pride at cheerleading that.
    danoxwilliamlondon
  • Reply 4 of 9
    zeus423zeus423 Posts: 242member
    I wonder how much concerts and merchandise add to the total. 
  • Reply 5 of 9
    danoxdanox Posts: 2,872member
    lkrupp said:
    Just spoke with a friend whose collector son passed away and she was dealing with over 15,000 78RPM records she needed to dispose of. Luckily someone came and picked them all up. He also had 14,000+ electronic vacuum tubes stashed in his basement.

    danox said:
    You will own nothing and be happy, every DVD and every CD that I have, I will hold on tight until the end.
    And you probably haven’t stuck any of them in a player in years, right?
    That is true. I plan on re-burning (sampling) them once I get my new Apple Silicon computer, but one day, the powers that be will decide to make everything a rental and a subscription, and everyone (most) will love it and like it, and it will be like being the only Mac user in an office of designers happy with their Microsoft PC, their BlackBerry and their Windows phone, times change, but then they remain the same.

    People like Dr. Demento are the good guys…… a Disney future is not necessarily the best future.
    edited March 2023 FileMakerFeller
  • Reply 6 of 9
    danoxdanox Posts: 2,872member
    zeus423 said:
    I wonder how much concerts and merchandise add to the total. 
    With a real monopoly around, like Ticketmaster, for most, it might not be as much as you may think.
    Armoured_Bear
  • Reply 7 of 9
    davidwdavidw Posts: 2,053member
    lkrupp said:
    Just spoke with a friend whose collector son passed away and she was dealing with over 15,000 78RPM records she needed to dispose of. Luckily someone came and picked them all up. He also had 14,000+ electronic vacuum tubes stashed in his basement.

    danox said:
    You will own nothing and be happy, every DVD and every CD that I have, I will hold on tight until the end.
    And you probably haven’t stuck any of them in a player in years, right?

    That don't matter. If one were to just rip one song from a CD into iTunes (of any other digital library) one legally must still own the original CD. One is not suppose to copy a CD (or any parts of it), so that they can listen to it or make more copies of, from their digital library, for the rest of their lives and not be in possession of the original CD. If one no longer have the physical CD, whether they sold it, gave it away, donated, returned it from whom it was borrowed from or threw it away because it was no longer playable, then one is suppose to delete the music from that CD from their iTunes. Ripped music from a CD that you did not own or still own, do not fall under "fair use". (I know in some countries this might be allowed as the user might be paying a "blank media tax" on recordable media, including HD and music players. The tax is suppose to be distributed to the the music owners, to make up for loss licensing fees from copying.)

    So just because one haven't stuck their CD's in a player in years, they still could be playing the music from those CD's from their digital library (like iTunes) and must hold on to them to legally have them in there. The legally of ripping CD's is that "fair use" allows for "back ups" of original software, but if you no longer own the original CD, then the ripped music from it is no long considered a "back up" and should be deleted.


    But in reality, no one (in the US at least.) will suffer any legal consequences any time soon, for getting rid of their originals once they are ripped into their computers.

  • Reply 8 of 9
    davidwdavidw Posts: 2,053member
    zeus423 said:
    I wonder how much concerts and merchandise add to the total. 

    These figures are for the sale of "recorded music". Live concerts are not consider "recorded music" (neither are merchandises.), even if a significant number of the musicians in live concerts, lip-syncs to their own "recorded music". 
  • Reply 9 of 9
    boboliciousbobolicious Posts: 1,146member
     I buy direct from artits when I can and rip CD or download non-drm to lossless. I have never bought an iTune.
    I expect streaming makes data mining a listener profile easier. Is it all really about the data in the end...?.
    williamlondon
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