“The U.S. recorded music industry grew 27 percent year over year during 2021’s opening half, generating $7.1 billion at retail value, according to a newly released mid-year report from the Recording Industry Association of America,” writes Dylan Smith in Monday’s (9/13) Digital Music News. “Domestic recorded-music revenue jumped from $5.6 billion at retail value in H1 [the first half of] 2020 to the aforementioned $7.1 billion at retail value throughout H1 2021. At wholesale value, the figure increased from $3.7 billion to $4.6 billion year over year, with both the wholesale and retail totals having turned in only modest improvements between H1 2019 and the pandemic-impacted H1 2020…. Streaming gains and bolstered vinyl sales looked to pave the way for H1 2021’s double-digit revenue boost…. Streaming generated 26 percent more in H1 2021 than in H1 2020, at $5.9 billion…. Paid streaming subscriptions, which still account for the lion’s share of Spotify’s revenue, brought $4.6 billion to the U.S. recorded music industry (up 26 percent)…. On the physical side, vinyl revenue … nearly doubled from H1 2020…. Domestic income attributable to CDs … jumped 44 percent.”
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