Streaming Music Contributed 75% of Total U.S. Music Industry Revenues for 2018 Streaming Music Contributed 75% of Whole U.S. Music Trade Revenues for 2018

Streaming music companies like Apple Music, Spotify, Google Play Music, Pandora, and others are persevering with to develop in recognition and in 2018, have been chargeable for 75 p.c of complete U.S. music business revenues, in accordance with a brand new year-end music business report launched right this moment by the RIAA. [PDF]

Income from streaming platforms grew 30 p.c yr over yr and hit $7.four billion. Whole music business income for 2018 was at $9.Eight billion, up from $8.Eight billion in 2017 and $7.6 billion in 2016.

Digital downloads from storefronts like iTunes made up 11 p.c of complete income in 2018, and bodily gross sales of data and CDs made up 12 p.c. Digital downloads fell for the sixth consecutive yr and have been eclipsed by bodily gross sales, which have been additionally down, aside from vinyl report gross sales (up 8%).

Paid on-demand subscription companies like Apple Music have been chargeable for a lot of the music business’s income progress, with ad-supported companies and customised radio companies making up a smaller portion of the expansion.

Total subscription revenues elevated a complete of 32 p.c from 2017 to 2018, totaling $5.four billion, due to 42 p.c progress within the common variety of paid subscriptions.

The RIAA doesn’t break down income by subscription music service, however eventually depend, Apple Music had 50 million paying subscribers, whereas Spotify had 87 million.


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