Music Subscriptions Revive Revenue
Industry Data
The music industry was hit hard by digitalization. Sales and revenue were in free fall for a long time. Slowly but surely the new business model of paid for subscriptions and streaming is gaining traction, helping to revive revenue. “For the first half of 2016, strong growth in revenues from subscription streaming services more than offset declines in unit based sales of physical and digital music download products”, according to the mid-year report by the Recording Industry Association of America (RIAA).
Description
This chart shows the growth in subscriptions and revenue in the music subscription segment in the U.S.
