Here’s a sentence we haven’t heard in awhile: The music industry is growing. During the first half of 2016, the industry saw an 8.1% increase in revenue, according to a recent report from the RIAA. Fueling this growth is a huge uptick in the number of people paying for on-demand music streaming services like Spotify and Apple Music. Subscription revenue in the first half of 2016 increased 57.4% over last year while digital downloads and physical album sales both continued to drop. All told, subscription services raked in $1 billion (this doesn’t include ad-supported streaming like YouTube and Spotify’s free tier).
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