Streaming brings music industry first growth in nearly 20 years

Category: Music

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The recorded music industry has enjoyed its first significant growth since the dawn of the Internet age, as streaming led digital to overtake physical sales, a global trade body said Tuesday. Recorded music revenue expanded by 3.2 percent in 2015 worldwide to $15 billion, fueled by an extraordinary growth in subscriptions to streaming services, according to the International Federation of the Phonographic Industry. The growth is the first uptick in the music industry at a more than marginal level since 1998, when sales grew 4.8 percent year-on-year.