Revenues accruing in this way account for 62% of the total of the major record companies in the US in the first half of the year.
After two decades in decline, the music industry was on track to recover in 2015, fueled by the role of platforms such as Spotify, Apple Music and Pandora. The streaming was coming to the rescue of record companies , and in the two years since then, the trend has only become more accentuated.
In March, the RIAA , the Recording Industry Association of America, or what is the same, the organization that represents the major industry in the United States, made official that, for the first time, revenue from the these platforms were more than half of the total.
Now the association has submitted its data for the first half of 2017, which improve the figures of the previous annual total. In the first six months of the year, revenues from music streaming account for 62% of the total market . In this way 2,498 million dollars enter, which marks an increase of 48% compared to 2016.
Within the music stream, the biggest growth has been recorded in payment subscriptions, which already reaches 30 million and totaling a volume of 1.7 billion dollars, 61% more than last year.
This increase has been what has motivated the music industry in the United States to grow 17% to close to 4 billion dollars . Streaming has managed to overcome the losses in the other two major revenue entry sectors: digital downloads and physical sales.
By way of downloads, revenues have fallen 24%, to $ 757 million. They account for 19% of the market, little more than physical sales, which have a share of 16% and are the entry way of 632 million. The physical business has barely declined 1% compared to the first quarter of 2016.