How Paid Subscriptions Are Saving The Music Labels

Musicians may grumble about royalty rates, but music streaming services and paid subscriptions are the prime source of revenue in the music industry.A report published by the Recording Industry Association of America (RIAA) said music streaming revenues for the first half of 2016 reached $1.6 billion — a year-on-year increase of 57%.

According to the 2016 Mid-Year RIAA Shipment and Revenue Statistics report, revenues from subscription streaming services more than made up for a continued decline in physical product, with streaming accounting for 47% of all music industry revenue for the year to date.

Source: ARC