Streaming services push recorded music business to highest revenue in a decade

The music industry just recorded its best year since 2008, drawing $9.8 billion in revenue thanks to a big jump in consumer acceptance for paying for streaming music services.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Streaming now represents 75 percent of all recorded music revenue, a 10 percent increase on the 2017 number, according to the RIAA. Mitch Glazier, chairman and chief executive officer of RIAA, lauded the revenue increase but noted that digital distribution still has problems.“As noteworthy as it is for the business to approach $10 billion in revenues again, that only returns U.S. music to its 2007 levels," Glazier said."Stream-ripping and a lack of accountability for many Big Tech companies that drive down the value of music remain serious threats as the industry strives for additional growth.

The concept of owning music is outdated. People consume music like food. You’re not always in the mood for tacos just like you are not always in the mood for [insert whatever you listen to on the reg]

Subscribing to music is mighty damn strange. Periodicals. Sure. Wine and cheese of the month, well yea. But music, that's just weird.

and arent they screwing you thedavidcrosby still?

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Source: Reuters - 🏆 2. / 97 Read more »