RIAA Confirms LPs Outsold CDs in 2022
May 12, 2023 §
Looking at the bigger revenue picture overall, recorded music revenues in the U.S. in 2022 continued to grow for the seventh consecutive year. Total revenues grew 6% to a record high $15.9 billion at estimated retail value. In what comes as little-to-no surprise, streaming continued to be the biggest driver of growth, with record levels of engagement in paid subscriptions, continued growth in ad-supported format revenues, and growing contributions from new platforms and services. At wholesale value, those revenues grew 5% and exceeded $10 billion for the first time ever.
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