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Jem Aswad-Senior Mitch Glazier record innovations Digital Fighting Music Platform Tiktok and Jem Aswad-Senior Mitch Glazier

Streaming Brought Record Growth to the Music Business — TikTok and A.I. Need to Get It Right: Guest Post by RIAA CEO Mitch Glazier

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Jem Aswad Senior Music Editor Today we release recorded music revenue data for 2022 showing a seventh straight year of continued growth – powered by a robust 8% increase in paid subscription streaming revenues which now make up two thirds of the market.

In raw numbers, paid subscriptions hit 92 million for the first time ever, continuing a decade long run of double-digit growth.

That’s practically double the 47 million paid subscribers on the books just four years ago in 2018. In the last ten years, streaming has gone from 15% to 84% of U.S.

recorded music revenues, a virtual overnight transformation of our industry unmatched by any other media or art form. Other formats also saw significant growth.

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variety.com
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variety.com
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