lswcapAccording to a report released recently by the Recording Industry Association of America (RIAA), the music industry’s total sales in the first half of 2019 increased by 18% to $5.4 billion, of which 80% came from streaming. It is also said that the number of paid subscribers in the US exceeded 60 million for the first time. Synchronized streaming revenue increased 26% to $4.3 billion.
In addition to paid subscription services such as Spotify, Apple Music, and Amazon Music, this includes streaming using non-paid advertisements such as Pandora and Sirius XM, and other non-paid advertisements.
Meanwhile, the paid subscription streaming service continues to grow. Paid subscriptions increased 31% over the previous year to reach $3.3 billion, making it the biggest growth factor in the music industry’s sales. In the first half of 2019, paid subscriptions accounted for 62% of sales in the US music industry and 77% of music streaming sales. The number of paid subscribers using the entire on-demand streaming service increased by 30% in the first half of this year to 61.1 million. This means that an average of 1 million new members per month have joined.
Of course, this doesn’t include some limited services like Amazon Music, which are only available on Echo and others. Revenue from these limited services sectors was $482 million, up 39% year over year.
Thanks to this growth, streaming now accounts for 80% of the music industry’s sales. It has changed the way music enthusiasts find, share, and listen to their favorite songs or musicians.
On-demand services with advertisements reached $429 million, a 25% increase over the previous year. Digital radio services increased by 5% to $552 million. Of course, in the case of downloads, it showed a downturn. Sales in this segment were down 18 percent to $462 million, while digital album sales were down 23 percent. Overall, digital downloads accounted for only 8.6% of total sales. Related information can be found here .
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