Music services’ revenues outstrip the e-downloads’ in 2015Â Few years ago, downloadable songs were a source of huge income for music companies, thanks to iTunes. But, the music industry has undergone radical changes lately, to the extent that Apple admitted that streaming services is already the number one way to consume music.
Such companies found out that streaming services’ revenues way exceeded the e-download’s in 2015, according to a report by RIAA. Supposing these figures are true, it seems the music industry was able to generate $2.4bn out total $7bn revenues. While, streaming services represent 34.3 per cent of the total revenues, compared to 0.3 per cent for downloads.
Although music services flourished, it seems that everyone in the industry is not happy about these figures. RIAA’s CEO Cary Sherman said: In 2015, fans listened to hundreds of billions of audio and video music streams through on-demand ad-supported digital services like YouTube. But, revenues from such services have been meager — far less than other kinds of music services. And the problem is getting worse.
