According to the RIAA Mid-Year 2025 Report, US recorded music revenue across all formats hit $5.6Bn in the first half of 2025. That’s up just 0.9% year-on-year, showing growth — but a much smaller increase than in recent years.
Key Trends & Figures
- Streaming dominates: Total streaming revenue was $4.68Bn, about 84% of all music revenue.
- Paid subscriptions up: Premium accounts rose 6.4% to 105.3 million. Subscription revenue grew 5.7%.
- Physical formats slipping: Physical music revenue dropped 5.9% to around $576 million. Vinyl dipped slightly (–1%), CDs plunged 22.3%.
- Downloads down: Album downloads fell 13.7%, singles down 0.3%.
- Sync licensing fell ~7.9%.
What This Means for Listeners
- Streaming is the default: Over 80% of revenue now comes from streaming.
- Premium pays off: Paid subscribers are fuelling the strongest growth.
- Collectors hit hard: Vinyl is holding ground but down slightly, CDs in steep decline.
- Downloads continue fading: Consumers prefer streaming over ownership.
A Few Surprises & Nuances
- Growth was modest at 0.9%, but hitting $5.6 billion still marks a high.
- Vinyl still outperforms CDs in revenue despite both falling.
- Ad-supported streaming is weaker, suggesting listeners and advertisers are moving elsewhere.
The Bottom Line
The RIAA’s H1 2025 report shows a US music market that’s large but slowing in growth. Streaming, especially paid subscriptions, remains the powerhouse. Physical formats and downloads continue to fade, leaving streaming as the clear future of music consumption in the United States.
The full report can be downloaded here.
