While the rise of streaming has been reason for concern in the music industry, the Recording Industry Association of America released its Mid-Year Revenue Report showing a ninth straight year of growth. It also set an all-time high with $8.4 billion in revenue in the first half of the year.
The RIAA points to paid streaming subscriptions as the biggest contributor to the all-time high, making up 78% of streaming revenues. The number of people with paid music subscriptions has more than doubled in the past five years. That $8.4 billion figure compares with $7.6 billion in the first half of last year and $7.1