2023 saw solid growth in recorded music revenues in the US for the eighth year in a row. Total revenues grew 8 per cent to a record high of $17.1 billion estimated retail value.
Physical music sales have seen a resurgence in recent years, with a lot of the attention going towards vinyl, however, streaming remains to the biggest driver of growth in the industry. This is thanks in part to record levels of engagement from paid subscriptions and growth in ad-supported revenues.
