Thanks to strong growth in streaming subscriptions, music industry revenues in the United States grew from $8.8 billion in 2017 to $9.8 billion last year. According to the year-end report of the Recording Industry Association of America
(RIAA) this marks the fourth consecutive year of growth for the music industry that had previously struggled with declining revenues for 15 years.
As our chart, based on RIAA data, illustrates, the music industry really has the rise of streaming to thank for its resurgence. While downloads were never quite able to fully offset the declines in CD sales
in the early 2000s, streaming revenues have now been able to compensate for declining physical format and download revenues for four consecutive years.
In 2018, music streaming, both subscription-based and ad-supported, accounted for 75 percent of U.S. music revenues, up from just 4 percent a decade earlier.