The RIAA released its revenue figures for the first half of 2021. Overall revenue grew 27% to $7.1 billion over 2020. Revenue from streaming, which includes paid subscription services, ad-supported services, digital and customized radio, and licenses for music on Facebook and digital fitness apps, grew 26% to $5.9 billion.
Streaming revenue accounted for 84% of total revenues in the first half of 2021, about the same as the first half of 2020.
The RIAA says there are now 80 million paid subscriptions for streaming music.
And as more consumers move to a streaming model for their music, digital downloads continue to decline. In the first half of 2021, revenues from digital downloads fell 6% to $319 million, accounting for 5% of total revenues. Revenues from digitally downloaded tracks and albums were down 12% and 4% respectively from the same period the prior year.
You can read the full first half RIAA report HERE.
