Music streaming revenue in the U.S. 2010-2023

Music streaming revenue has increased astronomically in the last ten years alone – growing from 1.9 billion U.S. dollars in 2014 to 14,4 billion in 2023. Streaming has become a popular pastime for U.S. music fans and a major source of revenue for the industry, though many traditional consumers lament the resulting decline of physical music formats. Physical CD shipments have dwindled, whilst digital music platforms are flourishing. 

The world of digital music

  Platforms like Spotify have millions of users worldwide, and millions of tracks are streamed via the service each week. In the U.S., more than 25 percent of adults under the age of 35 are Spotify users, as well as almost 20 percent of adults aged 55 or above. Unsurprisingly, the vast majority of digital music revenue in the United States is derived from subscriptions and streaming, and successful musicians like Drake, Eminem, and Ariana Grande  amass billions of streams each year. 

Whilst many artists in the music industry generate most of their income from touring, streaming is also incredibly lucrative, generating millions of dollars in earnings.