The Recording Industry Association of America (RIAA) released its 2023 music revenue report, showing an 8% increase in revenue to $17.1 billion. This figure represents the highest revenue recorded by their annual report, continuing a growth trend for the eighth consecutive year. Streaming remains the dominant revenue source, accounting for 84% of the total and amassing $14.4 billion. Paid subscription services have reached a new peak with 96.8 million subscribers.

For a detailed view of the report findings, you can explore the full 2023 Recorded Music Revenue Report here.