U.S. Music Industry:
• Estimated retail revenues from recorded music in the United States grew 11.4 percent to $7.7 billion in 2016, according to the Recording Industry Association of America.
• Streaming music revenue from companies like Spotify, Apple, Pandora, and YouTube accounted for 51.4 percent of that total and for the first time, contributed the majority of the year’s revenue.
• At 11 percent growth, the music industry saw the biggest increase it’s had since 1998, a time when six times more CDs were sold than today.
• Total revenues from streaming platforms were up 68 percent year over year and came in at a total of $3.9 billion.
• All categories of streaming, including paid subscriptions, SoundExchange distributions, and on-demand ad-supported streams, saw growth.