According to the RIAA, in 2021 recorded music revenues in the United States grew 23% to an estimated $15.0 billion retail value. While the 2021 music wholesale value rose 22% to $9.8 billion.

With the exception of a decrease in digital downloads, all major formats of music grew. With paid subscriptions of $9.5 billion, a 23% growth, being the biggest growth driver, resulting in the sixth consecutive year of growth for music revenues.

Streaming revenue was up 24% amounting to $12.44 billion of total sales or 83% of total revenue, with paid subscriptions accounting for almost two-thirds of this revenue. At $9.5 billion this represents a 23% growth, making it the biggest growth driver for that sector and resulting in the sixth consecutive year of growth for music revenues.

For the first time since 1996 the sales of physical media, both vinyl and CD, rose in the same year. 2021 will make the 15th consecutive year that is showing a significant resurgence in vinyl popularity. This is reflected by the continuing increase in sales numbers growing 61% to $1 billion and accounting for 63% of physical format sales but only 7% of total music revenues. Vinyl sales haven’t exceeded $1 billion since 1996.  CD revenues grew 21% to $584 million which is the first year-over-year increase since 2004.

While this continuing growth is good news for the entire music industry, it has only just now exceeded the sales of $14.6 billion reported back in 1999. That 1999 figure adjusted for inflation still remains roughly 37% below this 2021 revenue level.