According to the latest annual report from the Record Industry Association of America, in 2016, for the first time ever, streaming music platforms generated the majority of the U.S. music industry’s revenues. Revenue grew 11.4% in 2016 to $7.7 billion. The primary driver of that growth was a doubling of paid streaming music subscriptions. It’s the biggest increase since 1998.
The streaming category includes revenues from all subscription services such as Spotify, TIDAL, Apple Music, and streaming radio services including those revenues distributed by SoundExchange like Pandora, SiriusXM, and other Internet radio and ad-supported on demand streaming services including YouTube.
