The impressive growth of Apple Music’s revenue and the increase in sales of gramophone records compared to CDs for the first time

New data shows that the online streaming industry continues to grow and the music sector dominates the field. Interestingly, phonograph records continue to survive and, according to the RIAA, will outsell CDs for the first time in decades in 2022.

According to the RIAA, US music industry revenue will increase by 6% to a new record of $15.9 billion in 2022, and has continued to grow for the past 6 years. The streaming industry accounts for 84% of this revenue, followed by physical music sales with a share of 11%. The third place in the list belongs to digital downloads, which has 3% of this market share.

In the following, we review the income of different sectors of the music industry separately:

  • Physical products: $1.7 billion (a four percent increase over last year)
  • CD: 483 million dollars (18% decrease compared to the previous year)
  • Gramophone records: $1.2 billion (17% increase over the previous year)
  • Stream: $13.3 billion (7% annual increase)
  • Paid subscription services: $10.2 billion (8% increase over the previous year)
  • Limited-level subscriptions: $1.1 billion (up 18% year-over-year)
  • Advertising stream: 108 billion dollars (6% increase compared to last year)

According to the RIAA report, the average number of subscriptions to streaming services has grown annually for 10 years, reaching 92 million subscribers. In comparison, the number of subscribers of this service in 2021 was equal to 84 million people.

to report 9to5Mac, the revenue from digital music downloads has reached 495 million dollars in 2022 with a 20% decrease compared to before. Digital album and single sales also fell 20 percent to $242 million and $214 million, respectively. The download segment actually accounts for only 3% of the US music industry’s revenue in 2022, which is a 43% decrease compared to its peak performance in 2012.

Revenue from physical music sales will reach $1.7 billion in 2022, a 4% increase over the previous year. The income from the sale of gramophone records also reached 1.2 billion dollars with an increase of 17 percent.

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