Recorded Music Revenue Hit $17 Billion in 2023, Driven by Streaming's $14 Billion
Streaming music, which as in 2022 accounted for 84% of recorded music's revenues, gained 5.7% total subscribers, from 91.6 to 96.8 million, a record high.
The Recording Industry Association of America's just-released report for 2023 shows the recorded music industry's retail revenues up 7.5% from 2022, from $15.9 billion to $17.1 billion.
That's a big step up from the 2021-22 trend, when revenues gained 6%. The year-over-year increase marks an eighth consecutive year of growth for recorded music, with $17…
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