The US Music Industry Generated $11.54BN in Revenue in 2025

The US recorded music industry generated $11.54 billion in wholesale revenue in 2025, as per the RIAA’s just-released 2025 end-of-year report. As per its H1 2025 breakdown, the figures account for wholesale revenue as opposed to estimated retail value.

Streaming:

• Streaming continues to dominate industry revenue, but growth is increasingly concentrated in paid subscriptions, which were up 6.5% YoY to $106.5 million.

• Premium on-demand revenue rose 6.8% to $5.88 billion, accounting for over half of total recorded music revenue.

• Ad-supported streaming dipped slightly (-0.6% YoY to $1.79 billion), though performance improved in the second half of the year.

• Other streaming segments declined, including non-Premium subscriptions (-4.5%) and SoundExchange/other streaming payouts (-3.8%).

Downloads:

• Permanent downloads continued their long-term decline, with revenue down 0.8% YoY to $272.6 million.

• A 33.5% increase in “other digital” revenue (e.g., digital jukeboxes, in-flight entertainment) helped offset larger losses.

Physical:

• Physical sales continue to be driven by vinyl, with units up 7.9% and revenue up 9.3% YoY to $1.04 billion.

• CDs continued declining, with units down 11.6% YoY and revenue down 7.8% to $312.4 million.

• Other physical formats (e.g., cassettes, CD singles) achieved 16.5% revenue growth YoY but remain a very small revenue category at $25.8 million.

Sync revenue:

• Synchronization revenue fell slightly, down 1.3% YoY to $407.1 million.

What they said:

• RIAA chairman and CEO Mitch Glazier: “The last 20 years have been marked by unprecedented transformation for recorded music – from the steady rise to dominance of anytime, anywhere streaming options as listeners enjoy tunes from their favorite artists to a resurgence of vinyl as both a listening experience and collectable art. And now, our industry is advancing free-market licensing, building responsible AI partnerships that enhance discovery, deepen fan engagement and unlock new creative possibilities for how music is made and experienced. Through it all, music remains a cornerstone of culture and a growing economic powerhouse for the US, contributing $212 billion to our GDP and supporting more than 2.5 million American jobs.”