Hip-hop music has become increasingly popular in recent years, and this is reflected in the growth of the rap industry. In 2022, hip-hop accounted for 31% of all music revenue in the US, up from 25% in 2021. This growth is being driven by a number of factors, including the rise of streaming platforms, the increased popularity of hip-hop culture, and the success of a number of hip-hop artists.
Here is a breakdown of the rap industry's revenue in 2022:
* Streaming: $1.36 billion
* Physical sales: $662 million
* Licensing: $280 million
* Live performances: $330 million
The rap industry is a major economic force, and it is expected to continue to grow in the years to come.