RIAA 2023 Year-End Music Industry Revenue Report

RIAA 2023 Year-End Music Industry Revenue Report

RIAA 2023 Year-End Music Industry Revenue Report

Posted by on 2024-04-03

According to the RIAA (Recording Industry Association of America) that works for the music business and companies that create it in the United States of America, "Revenues from physical music formats continued to grow after their remarkable resurgence in 2021. Total physical revenues of $1.9 billion were up 11% versus the prior year. Revenues from vinyl records grew 10% to $1.4 billion – the seventeenth consecutive year of growth – and accounted for 71% of physical format revenues. For the second time since 1987, vinyl albums outsold CDs in units (43 million vs 37 million), even as revenues from CDs also show growth, up 11% to $537 million in 2023."