In its 2025 Year-End Recorded Music Revenue Report, the RIAA reported that U.S. recorded music revenue totaled a record $11.5 billion on a wholesale basis in calendar year 2025, an increase of 3.1% year-over-year. Revenue from digital formats was driven entirely by premium paid subscriptions, which increased by 6.8% year-over-year. Vinyl revenue was the largest contributor among physical formats, increasing by 9.3% over the period to $1.0 billion.