Home Music Industry News Music Streaming Services Revenues Surpass $1 Billion for First Time in First...

Music Streaming Services Revenues Surpass $1 Billion for First Time in First Half of the Year

streamingPandora, Spotify,  TIDAL, and all the others are doing something right.  According to the RIAA, the first half revenues from music streaming services surpassed $1 billion for the first time, growing 23% in 2015 to $1.03 billion – up from $834 million for the first half of 2014. This category includes revenues from subscription services (such as Rhapsody and paid versions of Spotify, among others), streaming radio service revenues that are distributed by SoundExchange (like Pandora,SiriusXM, and other Internet radio), and other non-subscription on-demand streaming services (such as YouTube, Vevo, and ad-supported Spotify). Music streaming services contributed 33% of total industry revenues in the first half of 2015, compared with 26% for the first half of 2014. The growth in revenues from streaming services more than offset the decline in revenues from permanent downloads for the first half of the year, which were 4% down from last year.

These numbers don’t even include Apple Music’s numbers because they didn’t begin until the last day of the period so we can only imagine what the rest of the year will look like.

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