RIAA Releases Year-End 2018 Report, Sees Third Year Of Double-Digit Growth

The U.S. music industry experienced its third consecutive year of double-digit growth in 2018 with retail revenues up 12 percent to $9.8 billion.

Streaming now comprises 75 percent of total industry revenues, as more than 50 million paid subscriptions have been realized. Vinyl continues to be a bright spot for the physical market, up 8 percent to $419 million, the highest revenue level since 1988.

See the full report here.

RIAA Chairman & CEO Mitch Glazier commented in Medium:

You can feel rising excitement and optimism within the halls of the record labels, and it’s a moment worth celebrating.

Rejuvenation in the industry means more opportunities to find and break new artists for fans to enjoy. In response to a growing market, labels are doubling down on what they do best: investing in great music makers and innovative businesses to realize creative visions and bolster the strong connection between artists and their fans.

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Eric T. Parker oversees operations and contributes editorial for MusicRow's print magazine, MusicRow.com, the RowFax tip sheet and the MusicRow CountryBreakout chart. He also facilitates annual events for the enterprise, including MusicRow Awards, CountryBreakout Awards and the Rising Women on the Row. [email protected] | @EricTParker

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