APPS ARE HERE TO STAY
STREAMING MUSIC SERVICES
Streaming music services were for the first time ever responsible for more than 50% of all U.S. music industry revenue in 2016, according to new numbers released by the Recording Industry Association of America (RIAA).
Paid and ad-supported streaming together generated 51% of music revenue last year, to be precise, bringing in a total of $3.9 billion. In 2015, streaming music was responsible for 34% of the music industry’s annual revenue.
Much of that increase can be attributed to a strong growth of paid subscriptions to services like Spotify and Apple Music. Revenue from paid subscription plans more than doubled in 2016, bringing in $2.5 billion, with an average of 22.6 million U.S. consumers subscribing to streaming services last year. The year before, subscription services had an average of 10.8 million paying subscribers.
Apps are now so integral to the music streaming experience. How do we intergrate and aggreagte the music experience in these apps so it is enjoyable and sharable? This is my main objective when consulting apps new and currently in the music market.