Streaming behind growth spurt in the recorded music industry worldwide

The first signs of significant growth for the music industry came in 2016, this after a decade and a half of being pillaged by internet. Labels witnessed revenue growth rise by mid-year, 8.1% more than in 2015 of that same period, no doubt because of a mass conversion by subscribers to services like Spotify (40 million subscribers) and Apple Music (20 million). It became crystal clear in early 2016 that streaming had officially taken the prize as the industry’s biggest source of income in 2015.