American music subscribers cross 100 million marks for the first time

The United States has crossed the 100 million subscriber brand for music broadcasting services for the first time in the past year, according to a new report submitted American Registration Industry Association (RIAA).

The subscriber number increased from 96.8 million in 2023, with an annual growth of about 3 %. The RIAA report said that these numbers deduct the limited level services-which have restrictions on access to devices and the limits of the availability of the catalog-the promise of multiple users (such as family plans) as one.

According to data from Digital music newsSpotify dominates the American market with a 36 % market share, followed by Apple Music by 30.7 %. Spotify has 55 million paid subscribers in the country, according to Report from Bloomberg It was published in January-unlike RIAA standards, Spotify is likely to break multi-user subscriptions.

Revenue from live broadcasting represents a huge part of the total music revenue-84 % in 2024. The revenues of $ 14.9 billion of paid subscriptions, advertising-backed services, digital and allocated radio, social media platforms, and digital fitness applications. The next big driver in music revenue was to copy material sales, representing 11 % of the total revenue.

The report indicated that the revenue of the paid subscriptions jumped by 5 % on an annual basis of $ 11.7 billion, which is 79 % of the total broadcasting revenue.

In the past few years, all services, including Spotifyand Apple Musicand And YouTube, The price of their subscriptions increased. This can also be a factor that contributes to high revenues through paid subscriptions.