Music industry revenues surpassed $46 billion in 2022, driven by streaming and vinyl sales growth.

Music industry revenues hit $46 billion in 2022, exceeding pre-pandemic cinema earnings, due to streaming growth and vinyl resurgence. Streaming revenues rose by 12%, while vinyl sales saw a 15.4% increase, expected to hit $1 billion annually by 2024. Digital channels now surpass broadcast and radio in value for music publishers, and live performances are more lucrative than general licensing. The industry's globalization is notable, with non-American artists accounting for nearly a third of US streams.

November 25, 2024
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