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Expand chart

Data: Recording Industry Association of America; Chart: Andrew Witherspoon / Axios

Streaming now represents the majority of music revenue in the U.S., and of that revenue, the majority comes from paid subscription services, like Spotify and Apple Music, according to a new Recording Industry Association of America report.

  • Revenues reached record highs for the first half of the year among all music streaming categories, (paid subscriptions, digital and customized radio, and on-demand ad-supported streams).
  • But paid subscriptions were by far the biggest driver of growth, growing 61% to $1.7 billion, more than 500% the amount of streaming ad revenue ($273 million).

Why it matters: User growth has been the main revenue driver, according to RIAA's Joshua P. Friedlander. There have been nearly 1 million new music subscriptions per month compared to the prior year, with total U.S. paid music subscribers reaching an average of 30 million for the first half of the year — a record high.

Whereas news publishers and legacy media outlets have struggled to create direct-to-consumer relationships on mobile, the music industry has revolutionized them, and consumers are clearly willing to pay for that premium experience.

Go deeper

Scoop: Biden eyes Russia adviser criticized as soft on Kremlin

Photo: Alexander Shcherbak\TASS via Getty Images

President Biden is considering appointing Matthew Rojansky, head of the Wilson Center's Kennan Institute, as Russia director on the National Security Council, according to a source familiar with the situation.

Why it matters: Rojansky has been praised for his scholarship on Russia and is frequently cited in U.S. media for his expert commentary. But his work has drawn criticism — including in a 2018 open letter from Ukrainian alumni of Kennan that blasted the think tank he runs as an "unwitting tool of Russia’s political interference."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Coronavirus cases hold steady at 65,000 per day — CDC declares racism "a serious public health threat" — WHO official: Brazil is dealing with "raging inferno" of a COVID outbreak.
  2. Vaccines: America may be close to hitting a vaccine wall — Pfizer asks FDA to expand COVID vaccine authorization to adolescents — CDC says Johnson & Johnson vaccine supply will drop 80% next week.
  3. Economy: Treasury says over 156 million stimulus payments sent out since March — More government spending expected as IMF projects 6% global GDP growth.
  4. Politics: Supreme Court ends California's coronavirus restrictions on home religious meetings.
  5. World: Iran tightens COVID restrictions amid fourth wave of pandemic.
  6. Variant tracker: Where different strains are spreading.

Maryland lawmakers override Hogan vetoes of police accountability legislation

Marion Gray Hopkins with Coalition of Concerned Mothers speaks during a rally promoting police reform on March 4 in Annapolis, Maryland. Photo: Bonnie Jo Mount/The Washington Post via Getty Images

Maryland's Democratic-controlled legislature on Saturday voted to override Republican Gov. Larry Hogan's vetoes of police accountability legislation.

Why it matters: Maryland is the first state to repeal its Law Enforcement Officers Bill of Rights, the Washington Post notes.