Streaming Subscriptions Gave the U.S. Music Industry Its Highest Revenue in a Decade

Evan Minsker
Updated
The numbers for 2017 were the best they’d been since 2008

The RIAA has released its annual year-end music industry revenue report. Revenues reached $8.7 billion in 2017, which is the highest they’ve been since 2008 (when they were also at $8.7 billion). Overall, 2017 pulled in 16.5% more in total revenue than 2016. It was the first year since 1999 that revenues grew for two years in a row. Streaming accounted for 65% of the industry, and as BuzzAngle’s numbers indicated in their report earlier this year, paid subscriptions saw a significant increase with nearly $4.1 billion in revenue. Read the full report.

Reports about the state of the industry in 2017 that emerged early this year showed that streaming subscriptions and vinyl sales were on the rise. The biggest sellers of the year included Kendrick Lamar, Drake, Ed Sheeran, and Taylor Swift.

Read “What Spotify Going Public Could Mean for Music Fans” and “How to Be a Responsible Music Fan in the Age of Streaming.”