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# Music Industry Revenue Up 16.5% In 2017, says RIAA
- URL: https://www.hypebot.com/music-industry-revenue-up-165-in-2017-says-riaa/
- Published: 2018-03-22T15:31:04.000Z
- Updated: 2018-03-22T15:31:04.000Z
- Description: The U.S. recorded music business grew for the second consecutive year in 2017, driven largely by a 56% increase to 35 million paid music subscriptions, according to the RIAA's 2017. Continue reading [https://www.hypebot.com/hypebot/2018/03/music-industry-revenue-up-165-in-2017-says-riaa.html]
- Author: Bruce Houghton
- Tags: Indie Music, Major Labels, Music Business, DIY, DIY musicians, indie, music, music industry, musician, musicians, record labels, RIAA, #wp, #wp-post, #Import 2026-01-21 10:05

[![Arrows up](http://hypebot.typepad.com/.a/6a00d83451b36c69e201bb09fd912b970d-200wi "Arrows up")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201bb09fd912b970d-popup?ref=hypebot.com)The U.S. recorded music business grew for the second consecutive year in 2017, driven largely by a 56% increase to 35 million paid music subscriptions, according to the RIAA's 2017 year-end music industry revenue report. Overall, recorded music saw a 16.5% increase in retail revenue to $8.7 billion, of which $5.7 billion came from streaming. [![image from cdn-images-1.medium.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b8d2e49f88970c-450wi "image from cdn-images-1.medium.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b8d2e49f88970c-popup?ref=hypebot.com)But for all the dramatic improvement, overall recorded music revenue is still 40% below its peak in 2008, and RIAA Chairman & CEO Cary Sherman blames music's value gap.[![image from cdn-images-1.medium.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c95a60a2970b-450wi "image from cdn-images-1.medium.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201b7c95a60a2970b-popup?ref=hypebot.com)Last year, Sherman focused on underpayment by YouTube; but this year he points the spotlight at SiriusXM and broadcast radio:*"Even as the shift to streaming powers the industry’s recovery, the digital migration also exposes the growing gap in our core rights — because, under current laws, not all platforms pay artists and labels fair rates reflecting market value for the use of their music. This includes terrestrial AM/FM radio, which inexplicably pays artists and labels nothing for the commercial use of their music, and SiriusXM, which pays under a below-market rate standard set more than 20 years ago when Sirius and XM were mere start-ups instead of the merged, wildly successful satellite service it is today."*

**Read the full report compiled by the RIAA's Josh Friedlander [here](https://www.hypebot.com/content/files/www-riaa-com/wp-content/uploads/2018/03/riaa-year-end-2017-news-and-notes.pdf).**