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Friday, September 21, 2018

RIAA: SUBS POWERED REVENUE IN H1 2018

Streaming is the dominant driver in the RIAA’s just-released mid-year report on the U.S. music business, accounting for a stunning 75% of the revenue pie for the first half of 2018, compared to 62% during the first half of 2017.

Along with the massive shift toward streaming in recent years, paid subscriptions in particular have skyrocketed. The H1 subscription revenue of $2.55 billion is nearly seven times that of ad-supported on-demand revenue—including video streaming—of $369m, with year-over-year growth of 33%.

The successes for streaming helped spur 10% overall growth in revenue over the first half of 2017. The total recorded music market generated revenue of $4.6 billion during the period.

The H1 results project to full-year revenue of $9.2b. That’s a lot of dough, but as the RIAA points out, overall market revenues are still significantly below the levels they were in 1999.

The full report can be seen in PDF form here.

 
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