March 30, 2017 |News Articles
RIAA REPORTS 2016 YEAR-END MUSIC INDUSTRY REVENUES
2016 was a year of significant progress for the American music business. Powered by 22.6 million subscriptions, streaming overtook all other formats, generating the majority of industry revenues for the first time. Overall retail revenues grew 11.4%. An extensive review of the data is available here.
Despite this positive news, our “recovery is fragile and fraught with risk,” as Recording Industry Association of America (RIAA) Chairman and CEO Cary Sherman explains in a complementary commentary posted on Medium.