RIAA information $15 billion in U.S. recorded music gross sales for 2021
by: Cameron DeFaria
Mar 10, 2022
The Recording Business Affiliation of America (RIAA) has formally revealed its year-end income report on recorded music gross sales in 2021.
Final yr, the recording trade generated a whopping $15 billion in gross sales, largely pushed by a 24% surge in digital streaming income since 2020, plus a positive uptick within the consumption of vinyl information. Whereas the present trade clocks in 40% smaller than it was in 1999 with inflation changes, 2021 nonetheless proved to be the highest-grossing yr in recorded music—beating out its $12 billion mark in 2020. The $15 billion breakthrough could be attributed to a steep rise in paid DSP subscriptions, the emergence of TikTok, an elevated demand for ad-supported streaming, and a billion greenback yr for vinyl gross sales.
Obtain revenues declined roughly 11% since 2020, and whereas CD gross sales skilled a 20% hike, neither of the 2 landed near their pre-pandemic figures. Nevertheless, vinyl gross sales comprised a major pattern, with the newest milestone within the vinyl sector courting again to 1986, the place gross sales exceeded $1 billion. This drastic leap, concurrent with digital streaming’s highest-grossing yr up to now, has accounted for a profitable and groundbreaking yr in 2021.
Learn the RIAA’s full year-end income report beneath.
Featured Picture: Andrija Kova
Classes: Information