The U.S. Music-Streaming Industry Grew 20% Last Year
The domestic music industry continues to enjoy a resurgence that is being driven in large part by the ongoing shift toward streaming services like Spotify (NYSE: SPOT) and Apple (NASDAQ: AAPL) Music. The Recording Industry Association of America (RIAA) has released its 2019 year-end report on the industry, and it shows that streaming music revenue jumped 20% last year to $8.8 billion.
Here's an incredible statistic from the RIAA: "The streaming market alone in 2019 was larger than the entire U.S. recorded music market just 2 years ago in 2017."
Image source: Spotify.
Source Fool.com
