U.S. Music Industry Surpasses 100 Million Paid Streaming Subscribers in 2024

Streaming remains dominant but revenue growth slows, prompting the industry to explore new strategies; vinyl sales continue their resurgence.

Paid music streaming subscriptions in the U.S. exceeded 100 million in 2024, generating $14.9 billion and accounting for 84% of total recorded music revenues.
Despite this milestone, streaming revenue growth slowed to 4%, continuing a multi-year trend of deceleration as the market nears saturation.
Vinyl sales reached $1.4 billion in 2024, marking their 18th consecutive year of growth and outselling CDs for the third year in a row.
The U.S. recorded music industry achieved a record valuation of $17.7 billion in retail revenue, reflecting overall growth despite shifts in revenue composition.
Ad-supported music services and digital downloads saw declines, while digital and customized radio revenues grew modestly by 3%.