Mega-selling albums like Taylor Swift’s The Life of a Showgirl and the Kpop Demon Hunters soundtrack keyed the results. Notably, a spate of special vinyl releases of Swift’s albums and various tracks and remixes helped spur another strong year for the physical format. Vinyl notched its 19th straight year of growth, cracking the $1 billion mark for the first time since 1983. With 46.8 million units sold, it more than tripled the revenue from CDs, which moved 29.5 million units.
While the resilience of physical music is an encouraging phenomenon not matched in other areas of the entertainment economy, streaming continues to be the linchpin. Total streaming revenue reached $9.5 billion, about 82% of the total.
With 106.5 million user accounts, streaming generated $6.4 billion in revenue, cementing the U.S. as the dominant global market for streaming music.
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