Paid streaming subscriptions grew just 2.7% YoY in the US in H1 2024 but overall market revenue topped $8.6bn
In the first half of 2024, paid streaming subscriptions in the US only grew by 2.7% year-over-year, despite overall market revenue surpassing $8.6 billion. Taylor Swift's album 'The Tortured Poets Department' achieved a historic milestone by reaching 1 billion streams on Spotify in just one week. The market faces challenges from major record labels suing AI music generators for copyright infringement, while Latin music has seen a significant revenue increase, generating $1.4 billion in the past year, marking a 16% growth year-over-year.
Published on Thursday, August 29, 2024 at 12:34 PM
Read the article
Music Business Worldwide
You might like these
Keep up with your corner of the music industry
You're all set.
Check your e-mail.
Subscribe
Stay up to date on industry news, music, and articles with our industry newsletter. Whether you’re a fan, musician, or industry professional, we’ve got you covered.