According to the latest RIAA report, streaming music is bringing more and more revenue to its producers. Last year only in the US, all paid music services, produced $ 3.9 billion.
There was a time when music labels were worried that streaming music and paid services for users’ mobile devices would affect record sales, limiting their profits. These concerns are probably past, as the latest RIAA-2016-shipment-revenue-statistics show that streaming brings revenue to the rest of the world.
In the United States alone, last year it was as much as $ 3.9 billion. That represents just over half of last year’s profit generated by the US music industry, which totaled $ 7.7 billion. Compared to last year, industry-wide profits rose 11.4 percent. And this is the biggest increase since 1998.