How much is the recorded music industry worth?
How much is the recorded music industry worth?
On a retail basis, recorded music revenues in the US (money spent on streaming subscriptions, as well as physical and digital music), grew $1.5 billion or 27% year-on-year, to $7.1 billion in H1 2021 (from $5.6 billion in H1 2020).
Where can I find music sales data?
The RIAA provides the most comprehensive data on U.S. recorded music revenues and shipments dating all the way back to 1973. This is the definitive source of revenue data for the recorded music industry in the United States.
What is the highest grossing form of recorded music?
According to Guinness World Records, Michael Jackson’s 1982 album Thriller remains the best-selling album in history, with an estimated 66 million copies sold worldwide.
How big is the recording industry?
In 2020, the total revenue of the recorded music industry amounted to 23.1 billion U.S. dollars. Streaming made up 56 percent of this figure, bringing in 11.9 billion dollars globally.
How much did record labels make in 2020?
Midia’s figures suggest that the recorded music business saw revenues of $23.1 billion in the year. That was up 7% on 2019, and represented a $1.5 billion monetary increase year-on-year.
Where can I see record sales?
Additional Sources
- Recording Industry Association of America. Note: RIAA tracks nothing under 5,000 sales units.
- Billboard Official Website – Charts. Billboard’s charts website.
- Billboard. Full-text access to Billboard magazine.
- The Official Charts Company.
- Statistical Abstracts.
- Music Index Online (1970-present)
How many streams does it take to go platinum?
The Recording Industry of America (RIAA) says 1,500, which means a Platinum Award requires a mere 1.5 billion streams. Most sectors of the music industry have developed their approaches to acknowledge the digitization of music and the importance of music streaming.
How many streams equal an album sale?
1,500
The Album Award counts album sales, song sales and on-demand audio and/or video song streams at the formula of 1,500 on-demand audio and/or video song streams = 10 track sales = 1 album sale.
How much is the global music industry worth 2021?
According to the RIAA, overall recorded music revenues grew from $5.6 billion in the first half of 2020 to $7.1 billion in 2021 at retail value. At wholesale value revenues rose 25%, from $3.7 billion in 1H 2020 to $4.6 billion in 1H 2021.
What is the total revenue of the recorded music industry?
This graph depicts the global revenue of the recorded music industry from 1999 to 2018. In 2018, the total revenue of the recorded music industry amounted to 18.9 billion U.S. dollars.
What is the best source for music sales data?
U.S. Sales Database The RIAA provides the most comprehensive data on U.S. recorded music revenues and shipments dating all the way back to 1973. This is the definitive source of revenue data for the recorded music industry in the United States.
How much money do vinyl records generate?
Back in 1997, the sale of vinyl records generated revenue of 144 million U.S. dollars worldwide. By 2006, this figure had dropped to a dismal 34 million U.S. dollars worldwide.
Who has sold the most records of all time?
250 million or more records The Beatles Rihanna Michael Jackson Elvis Presley Elton John Madonna Led Zeppelin
