Music streaming services like Spotify are the leading source of music revenue in the US
As this chart by Statista shows, the leading source of revenue within the music industry are streaming services like Spotify, Apple and Amazon. The streaming music business generated more than $4 billion in revenue last year, and its share of the music industry's revenue keeps growing. The study, which was conducted by the Recording Industry Association of America, is an auspicious sign for Spotify, which has pioneered the music subscription model over the past few years.
Jenny Cheng/Business Insider
- Srinagar freezes at minus 4.8, season's lowest so far
- New Fund Offers explained – Should you bite the bullet or stick to the tried and tested?
- Bullish domestic markets push up Rupee to 83.37/USD
- No Monday blues: Sensex scales 70,000-peak for the first time; Nifty crosses 21,000-level
- Initial Public Offerings (IPOs)