RIAA Q2 Report: Revenues Grow 27% To $7.1 Billion

Mitch Glazer: Bullish On The Future.

The RIAA's Q2 report reveals recorded music revenues in the U.S. grew 27% in the first half of 2021 vs. the prior year, from $5.6 to $7.1 billion at retail value. Paid subscriptions continued to be the strongest contributor to growth, comprising nearly two-thirds of total revenue, averaging more than 80 million paid subscriptions for the first time. 

The effects of COVID-19 continued to affect the industry, and year-over-year comparisons are significantly impacted by store closures, tour cancellations and other disruptions from both 2020 and 2021.

Commented RIAA Chairman/CEO MITCH GLAZER, "These powerful results reflect a core truth about the ways we connect with music today — as a sustained and ongoing relationship where a steady stream of listening and discovery on different devices and services is with us all day long, powering a creative and commercial renaissance. One with continued new opportunities and headroom for growth and success for artists and their label partners."

 The full report can be found here.

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