How Streaming Services Saved The Music Industry

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    An anonymous reader quotes CNN: The music industry was in crisis just a few years ago. Sales were cut in half from their peak as single downloads, YouTube and piracy made the CD album go virtually extinct. But music has found its white knight: streaming. Last year, recorded music revenues in the United States went up by 13% to $11.1 billion — the highest level since 2006… “The music industry today is healthier than it’s been in more than a decade,” Josh Friedlander, the senior vice president of research at the Recording Industry Association of America, told CNN Business. “Revenues from streaming services are more than offsetting decreases in physical sales and digital downloads.” Friedlander added “it’s hard to overstate the impact streaming music has had on the music industry….” Music streaming — which includes paid streaming, ad-supported streaming and streaming radio — represented about 5% of the music industry’s revenues in the US in 2009. In 2019, that number had grown to roughly 80%, according to the RIAA. Read more of this story at Slashdot.

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