Music Streaming Revenue Increased 53 Percent in 2017, Digital Services Report
U.S. digital revenue grew 15 percent in 2017 to $ 6.5 billion from $ 5.65 billion, driven largely by a 53 percent increase in streaming to $ 3.4 billion from 2016’s total of $ 2.2 billion.
That’s the prediction of the Digital Media Assn. (DiMA), which represents music streaming services and other digital music providers that account for 95 percent of U.S. digital music revenue.
“Digital streaming has saved the record industry, with ad-supported and subscription music services driving a third consecutive year of increasing revenue,” the org said. “As the music industry comes together for Grammy Week, the continued increase in digital music revenue is a clear sign that smart policies encouraging innovation and investment benefit everyone.”
Those statistics are from a forthcoming report, “Streaming Forward,” coming via DiMA and research firm, MIDiA.