A RIAA (Recording Industry Association of America)an association representing music labels and music distributors in the United States, released data [PDF] relating to the year 2022 on the music market in the country. Unsurprisingly, streaming continues to dominate (and grow) as the top revenue stream in the industry.
Last year, streaming services (like Apple Music, Spotify and the like) represented 84% of all US music revenue, while physical media was the second largest source of revenue (with 11%); digital music downloads (from services like the iTunes Store) were left with just 3%.
Limited to the streaming universe, revenue from paid subscriptions grew 8% in 2022, reaching $10.2 billion. Paid subscription services that have catalog or device restrictions (such as Amazon Prime), as well as fitness subscription services (like Apple Fitness+) have grown 18% and already add up $1.1 billion the recipe.
It is interesting to note the sharp drop in the percentage of digital downloads in relation to physical media. While there was a 20% drop for the first compared to last year, for the second there was an increase of 4%. This is not reflected in the number of units sold, as sales of physical media were down 14.7%.
This is easily explained by the recent trend in sales of LPs and EPs, which are the only category among physical media types to still show growth. As they are relatively expensive products due to their appearance vintagethey manage to “hold” revenue from physical media and prevent a drop in the total percentage.
To give you an idea, in 2019 we had a much more equal scenario in terms of revenue for these two sectors: each one grabbed 9%, while streaming already dominated with its 80%.
Apple Music has a catalog of more than 100 million songs and 30,000 playlists — many of them supporting Spatial Audio (Dolby Atmos) and in very high definition, with audio Lossless. In Brazil, there are three types of subscription: University (BRL 11.90/month), Individual (BRL 21.90/month) is Familiar (BRL 34.90/month). If you are not a subscriber, you can try the service for free for one month. It is also part of the company’s Apple One subscription package.
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via AppleInsider
