Close ☰
Menu ☰

US music revenue grows 10% to $4.6bn in first half of 2018

Posted on: Thursday 11th of October 2018

Half year figures from the RIAA (Recording Industry Association of America) show US recorded music revenue grew 10% to $4.6bn at retail. Streaming is driving growth, with revenue increasing to $3.35bn, up 28.4% from the first half of 2017. Paid subscriptions grew to $2.55bn, up from $1.91bn, or a 33.3% increase, with ad-supported revenue nearly $498m, a 15.6% increase. 

A key point is that paid subscriptions to streaming services – the model once decried as ‘unable to compete with free’ – are growing vigorously. Paid streaming subscribers at the end of the first half of 2018 totalled 46.3m, a 47.4% jump from the 31.5m subscribers counted at the mid-year point in 2017. In November 2002, when I profiled fledgling online music services, I jumped on something Matt Graves of Listen.com said: “Music doesn’t have to be free, but it should feel free. If you put it out there at an affordable price in a way that makes it fun to explore and learn more about music, people will pay.” 

It may have taken 15 years, but a new generation of music listeners now finds it completely normal to pay a small amount each month to access music. The new challenge is music discovery. According to figures from Nielsen, more than 70,000 different albums were released in the US by mid-year. Finding an audience amongst an extraordinary range of music choices is the new challenge.



Latest News & Blog articles

  • The first-of-its-kind Scholarship programme, which begins in 2021, will cover the full cost of the course fees and contribute towards living expenses for two black British students annually to study on Abbey Road Institute’s Advanced Diploma in Music Production and Sound Engineering. Abbey Road Institute is the education arm of Abbey Road Studios, offering highly […]
  • The inaugural Sound of the Year Awards 2020 is a newly launched celebration of everyday sound (not music) in all its forms presented by The Museum Of Sound in partnership with The New BBC Radiophonic Workshop and others. It is a UK-based awards ceremony this year but submissions are encouraged from around the world. Anyone […]
  • The Music & Media Technologies (MMT) programme at Trinity College Dublin has partnered with PreSonus Audio Electronics in adapting to a new online lecturing format, to enable students to carry out their creative and technical audio projects remotely. MMT lecturer Jimmy Eadie said, “We are delighted about the potential of this industry and academic partnership between […]
  • Shenzhen Leiting Digital Entertainment Company Ltd is one of China’s leading video games publishers, with over 45 million players across the country enjoying its mobile and PC releases. A wholly-owned R&D subsidiary of G-bits, the company employs enthusiastic games fans with one simple mission – to produce ‘unique and great games’. As a result of […]
  • Despite the challenges and delays of a global pandemic, manufacturers have continued to develop new and innovative products. Our nominations include both high-tech AoIP equipment and artisanal custom-builds, encompassing the (sometimes esoteric) recommendations from our panel of producers, and drawing on the detail and results from recent reviews by our professional contributors. For the tenth anniversary […]
  • Focusrite Pro has introduced a new Red 8Line interface, RedNet R1 desktop remote controller, and MkII editions of its RedNet A16R and RedNet D16R Dante interfaces. Red 8Line is a completely new addition to the hugely powerful Red range of Pro Tools | HD, Thunderbolt 3 and Dante audio interfaces for Mac and PC. Red […]
  • The award-winning games developer has installed three edit suites and a Dolby Atmos mix room at its facility in Sheffield. While most of the UK has been in lockdown, award-winning game developer Sumo Digital has been expanding its audio facilities by building three 5.1 surround sound edit suites, a Dolby Atmos mix room and a […]
  • The investment company which owns the studios where The Sopranos, Sex and the City and 30 Rock were recorded today signed a deal to build London’s largest Hollywood-style TV and film production centre. Hackman Capital Partners, the owner of sites including Culver Studios in Los Angeles and Silvercup Studios in New York, has agreed to invest […]
Translate »