Digging deep into the numbers of the annual report covering the U.S. recorded music business.
There are plenty of other interesting takeaways to discern from digging through the RIAA’s report. Here are four that stand out.Both the average number of paid subscribers and the revenue from full-catalog paid subscriptions grew at much slower rates, both in percentage terms and in actual numbers, than in recent years. The former metric showed an increase of 8 million subscribers , while the latter metric reflected an increase of $600 million .
Another reason for optimism: The above numbers don’t include limited-tier subscription revenue — things like Amazon Prime and fitness apps like Peloton — which crossed the $1 billion mark for the first time in 2022. Since 2020, when the pandemic led to a home fitness app craze and resulted in additional areas of limited music subscription beyond the traditional paid streaming realm, limited-tier subscription revenue has grown 47.7%.
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