Streaming now accounts for 75 percent of music industry revenue
The Verge reports: The Recording Industry Association of America released a report today that details how the music industry has grown in 2018, and while the data isn’t surprising — the world still isn’t buying records — the specific numbers are still fascinating. Turns out, streaming makes more money than physical CDs, digital downloads, and licensing deals combined. Streaming in this context includes paid subscriptions to services such as Spotify and Tidal, but also radio broadcasts and video streaming services such as VEVO. It’s a broad category that nonetheless has made $3.4 billion dollars in 2018 so far, a total that amounts to 75 percent of overall revenue for the record industry.