Those music streaming dollars
Music–streaming subscription revenues exceeded $4bn in the US for the first time in 2017. In addition, revenues from on-demand, advertising-supported streaming services spiked 35% last year to reach $659m, according to the RIAA.
Streaming music platforms accounted for almost two-thirds of total US music industry revenues in 2017, and contributed nearly all of the growth.
Leading streamer Spotify, which listed yesterday on the New York Stock Exchange, says it expects to have as many as 76m paid-up subscribers at the end of the first quarter, with total monthly actives users running to 171m.
Spotify is forecasting 96m paid-up subs at end-2018, with annual revenues amounting to as much as $5.3bn.