Music revenue rose 16.5 percent to $8.7 billion in the U.S. in 2017, and the majority of the increase is due to music streaming services. According to an annual reportfrom the Recording Industry Association of America (RIAA), via Wall Street Journal, it’s the second consecutive year of significant growth since 1999. Continue reading U.S. Music Revenue Rises, Boosted by Streaming Services
Last October SoundCloud–a free music-streaming service with a massive 175 million monthly users–appeared to be running out of cash. News broke that the Berlin-based company had lost $29.2 million in 2013, and when a rumored $2 billion buyout bid by Twitter fell through, it looked like music’s hottest startup might be in danger of going bust.