Streaming music services like Apple Music and Spotify added more than one million US subscribers per month in the first half of the year, according to the Recording Industry Association of America (RIAA).
RIAA says that streaming services also now provide 80% of total music industry revenues in the US, and income from paid subscriptions grew faster than from ad-supported services…
The WSJ has the numbers.
Revenue from recorded music in the U.S. rose 18% to $5.4 billion in the first half of the year, driven by growth in subscriptions to streaming services […]
Revenue from music streaming in the U.S., including paid subscriptions and ad-supported options, increased 26% to $4.3 billion in the period, representing 80% of the industry’s total revenue.
Paid subscriptions surged 31% to $3.3 billion, accounting for 62% of total industry revenue. Meanwhile, revenue from ad-supported on-demand streaming services like YouTube and Spotify’s free tier grew 25% year-over-year to $427 million.
Where physical media is concerned, the vinyl resurgence is clear: of the 9% of revenues from physical products, almost half of it came from vinyl.
Vinyl albums, which have been a bright spot amid otherwise dismal physical sales, grew 13% to $224 million, making up 4% of total revenue in the period.
There are more ways than ever before to listen to Apple Music. Porsche partnered with Apple to offer Taycan EV owners the ability to stream Apple Music through the car’s built-in mobile data connection, Echo speakers in Germany and Italy can now stream Apple Music, and just yesterday a public beta went live for the all-new Apple Music web app.
Through Apple Music on the web, you can access all of the streaming service’s core functionality, including your library, search, radio, browse, and more. If you have the “Sync Library” setting enabled, you’ll be able to keep your library the same across Apple Music on all of your devices.
All Apple Music editorial content can also be found via the web app, including the “For You” selection and all other curated playlists and charts. The web app also reacts to your Dark Mode setting, which is a very nice touch. All in all, it looks very similar to the new Music app in macOS Catalina.
Worldwide, Apple Music now has more than 60M paid subscribers.