U.S. recorded music revenue hit a record high in the first half of 2025, but growth was flat year over year, according to the RIAA ‘s midyear report released on Tuesday.

Per the RIAA, wholesale revenue grew to $5.589 billion in the first half of the year, up from $5.537 billion, which represents a less than 1 percent increase from 2024. These figures continue the trend of the U.S. market’s slowed revenue growth as streaming has become increasingly saturated since the boom began in the 2010s.

Notably, the RIAA updated its reporting system this year to be based purely on wholesale data rather than retail data, stating that it shifted to align with global reports such as the IFPI’s annual global music report. Wholesale figures are lower than retail. For example, in last year’s midyear r

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