According to a new report by the Recording Industry Association of America (RIAA), last year the United States crossed the 100 million mark for paid subscribers to streaming music services for the first time in history.
The number of subscribers increased from 96.8 million in 2023, with an annual growth rate of approximately 3%. The RIAA report notes that these figures do not include limited tier services, which have restricted access to devices and limited access to catalogs, as well as subscriptions for multiple users (e.g., family plans) as one subscription.
According to Digital Music News, Spotify dominates the US market with a 36% share, followed by Apple Music with 30.7%. According to a Bloomberg report published in January, Spotify has 55 million paid subscribers in the country – unlike the RIAA’s figures, Spotify likely splits subscriptions across multiple users.
Streaming revenues accounted for a significant portion of total music revenues – 84% in 2024. Streaming revenues of $14.9 billion came from paid subscriptions, advertising services, digital and customized radio, social media platforms, and digital fitness apps. Sales of physical copies were the next major driver of music revenues, accounting for 11% of total revenue.
The report notes that revenues from paid subscriptions jumped 5% year-on-year to $11.7 billion, accounting for 79% of total streaming revenues.
