US labels body the RIAA has published its annual revenues report<\/a>, covering the country\u2019s recorded-music market. The headline is 3.1% year-on-year growth to $11.54bn.<\/p>\n\n\n\n Those are wholesale revenues \u2013 those earned by music rightsholders \u2013 and represents a slight uptick in growth from 2024\u2019s 2.7% increase<\/a>.<\/p>\n\n\n\n In 2025, the US recorded-music industry\u2019s streaming revenues also grew by 3.1%, to $9.47bn. Within that, premium paid subscriptions were up 6.8% to $5.88bn, with an average of 106.5m paid accounts \u2013\u00a0up from 100m the previous year.<\/p>\n\n\n\n\n However, there was a decline of 4.5% for non-premium paid subscriptions to $495.2m. Those are services or tiers with limited interactivity (not fully on-demand) or which are bundled into wider services where music isn\u2019t the sole focus \u2013\u00a0fitness for example.<\/p>\n\n\n\n The RIAA also reported a 0.6% decline in revenues for free streaming to $1.79bn. That\u2019s free, ad-supported music and video services as well as social-media platforms.<\/p>\n\n\n The figures showed a 5% increase for physical music sales, with the industry reaping $1.38bn from those \u2013\u00a0$1.04bn from vinyl, which was up 9.3%, and $312.4m from CDs, which was down 7.8%.<\/p>\n\n\n\n\n The RIAA pointed out that this is the 19th consecutive year where vinyl sales grew in the US, and that the $1.04bn represents \u201cnearly 50% of the format\u2019s global value\u201d.<\/p>\n\n\n\n The overall $11.54bn figure is a record total, although not when you adjust the RIAA\u2019s historical stats for inflation. The sector has yet to near the peak of the physical era: an inflation-adjusted $16bn in 1999.<\/p>\n\n\n\n \u201c2025 reveals a\u00a0strong and stable music economy resulting from committed label investment and identification of new spaces to expand artists\u2019 creativity,\u201d said RIAA VP research and operations Matt Bass.<\/p>\n\n\n\n\n \u201cFrom the ease of streaming to new vinyl to licensing responsible AI tools and services, labels are diversifying fan engagement.\u201d<\/p>\n\n\n\n Meanwhile, CEO Mitch Glazier offered another couple of stats, with an eye on the policymakers who the RIAA and its members are lobbying for creator-friendly AI regulation.<\/p>\n\n\n\n \u201cMusic remains a cornerstone of culture and a growing economic powerhouse for the US,\u00a0contributing\u00a0$212bn to our GDP and supporting more than 2.5 million American jobs,\u201d said Glazier, citing the \u201850 States of Music<\/a>\u2018 study.<\/p>\n\n\n\n So, the US recorded-music market grew by 3.1% last year. The UK was up 5%<\/a>; Germany grew by 2.3%<\/a>; and Japan increased by 10%<\/a>. All of which is preparing us for global body the IFPI\u2019s Global Music Report later this week.<\/p>\n\n\n\n That\u2019s when we\u2019ll find out how these and other countries\u2019 growth impacted the overall industry totals.<\/p>\n\n\n\n In the meantime, consultancy Midia Research has put out its own estimates for 2025<\/a>, suggesting that the market grew by 9.4% to $39.5bn. However, in its case that figure includes \u2018expanded rights\u2019 \u2013 the money labels make from their involvement in merchandise, live music and brand deals among other sources.<\/p>\n\n\n\n