Radio rides the audio wave.

MusicWatch’s 22nd Annual US Music Study reports a surge in digital music subscriptions, reaching 109 million Americans, with 136 million including SiriusXM and Amazon Prime listeners. Despite this, broadcast radio saw increased listenership in 2023, notably in car listening, preferred by 69% of listeners. This emphasizes the importance of maintaining a presence on car dashboards, supported by initiatives like the AM For Every Vehicle Act. Hip-Hop has overtaken Classic Rock as America’s favorite genre. The US recorded music market expanded by 10 million buyers in 2023, with a 7% increase in spending, driven by streaming, vinyl, and CDs. However, the report suggests untapped potential in subscription growth, especially among younger demographics like Gen Z, urging conversion from free to paid services.