THIS ISSUE: Recorded music’s bright future.
I wrote about the music industry’s impressive recovery in the February 2022 AWSI.1 Robust LP sales were a headline item of that report, but they’re a sideshow: Paid-subscription streaming is what is bringing the industry back.
When I wrote that, 2021 wasn’t quite over, so year-end financials weren’t available. They’re available now.
According to the Recording Industry Association of America, in 2021 recorded-music revenue reached $15 billion, an astonishing $2.9 billion—19.3%—increase over 2020. That increase is probably exaggerated by COVID-suppressed 2020 revenue—physical media sales were certainly down—but 2020 revenue was still $1
