The sudden slowdown could have a number of causes. Why Apple's Classical Streaming Service Is a Good Sign for the Music Subscription Business A similar scene played out in the United Kingdom and France, the world’s third- and sixth-largest recorded-music markets, respectively growth of paid-subscription revenue dropped from 13% to 4.8% in the United Kingdom, according to the BPI, and from 15% to 11.4% in France, according to SNEP, France’s record industry trade group. recorded music revenue, overall revenue growth slowed to 6.1% from 23.2% the prior year. With subscriptions now accounting for 57.9% of U.S. It was the lowest annual rate since the subscription market grew just 2.9% in 2010 - a year before Spotify launched in the United States and transformed a business that depended on downloads to one ruled by streaming. music subscription revenue fell to 7.2%, down from 22.2% in 2021, according to the RIAA.
With some high-flying markets falling to single-digit recorded-music revenue growth in 2022, there are rising expectations that Spotify will follow Apple Music and Amazon Music and raise the price of its individual plans in the United States and other major markets.
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