Music revenue rose 16.5 percent to $8.7 billion in the U.S. in 2017, and the majority of the increase is due to music streaming services. According to an annual report from the Recording Industry Association of America (RIAA), via Wall Street Journal, it's the second consecutive year of significant growth since 1999.
As with 2016, last year's music revenue rise can be attributed to streaming music platforms, which represented the majority of revenue. The category includes revenue from premium subscription services offered by companies such as Spotify, Amazon, Tidal, Pandora and Apple Music as well as ad-supported on-demand streaming services like YouTube and Vevo. In 2017, streaming music platforms contributed two-thirds of the total U.S music industry revenue. Paid subscriptions were the biggest driver, bringing in more than $4 billion in revenue for the first time.
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