Streaming is the new normal for how Americans listen to music. If the codependent nature of Spotify and Universal’s agreement isn’t enough, this chart from Statista should make it clearer: According to the RIAA, streaming brought in more than half of the US music industry’s revenue in 2016.
This comes after Nielsen said earlier this year that on-demand streaming had generated more revenue than digital album and track sales for the first time in 2016. Whether Spotify or music labels can make sustainable profits off streaming is another question, but it’s clearer than ever that this is the bed that’s been made for them.
