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Stock impact report

US Music Industry Posts 100 Million Paid Streaming Users [Barron's]

Meta Platforms, Inc. - Class A (META) 
Company Research Source: Barrons
The US industry's total revenue last year increased three percent to $17.7 billion retail, the report said, up half a billion dollars from 2023. Paid subscription services accounted for 79 percent of streaming revenues, and almost two-thirds of total revenues. Yet streaming growth has slowed over the past five years -- in 2024, it increased by less than four million subscriptions, compared to the jump from 2020 to 2021, when it spiked by almost nine million -- a trend that has pushed music companies to seek growth elsewhere. Universal, for example, has been touting a "Streaming 2.0" vision focusing on avenues like selling products to superfans. Music revenues meanwhile fell two percent to $1.8 billion on ad-supported, on-demand services -- examples include YouTube, Facebook and Spotify's ad-supported version. Indie darling vinyl posted its 18th straight year of growth, and accounts for nearly 75 percent of physical format revenues that total $2 billion, the RIAA said. For Show less Read more
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