Archive — US — techcrunch
US paid music subscribers cross 100 million mark for the first time
The U.S. music streaming market has surpassed 100 million paid subscribers for the first time, according to the RIAA. This marks a 3% increase from 2023. Spotify leads with a 36% market share, followed by Apple Music. Streaming accounted for 84% of total music revenue in 2024, driven by paid subscriptions, which grew 5% year-on-year, totaling $11.7 billion.
Key points
- The U.S. music streaming subscribers reached 100 million, a milestone for the industry.
- This figure reflects a 3% increase from the previous year's 96.8 million.
- Spotify holds the largest market share at 36%, with 55 million paid users.
- Apple Music follows with a market share of 30.7%.
- Streaming revenue accounted for 84% of the total music revenue in 2024.
- Revenue from paid subscriptions increased by 5% year-on-year, totaling $11.7 billion.
Why it matters
- The growth in paid subscribers reflects a significant trend in the music industry towards digital consumption.
- Historically, the rise of streaming services since the early 2010s has shifted music consumption from physical to digital formats.
- By 2025, trends show ongoing digitalization in entertainment, with more integration of subscription models.
The surge in U.S. paid music subscribers to over 100 million marks a pivotal moment for the industry, highlighting the transition towards digital and subscription-based models in music consumption.