US music business in growth spurt as streaming doubles

Category: Music

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The US music industry Tuesday posted its strongest growth in more than a decade in the first six months of 2016 as streaming subscriptions doubled, but other formats showed weakness. Consumers in the world's biggest music market had 18.3 million subscriptions to paid services such as Spotify, Apple Music and Tidal in the January-June period, compared with 9.1 million in the same period a year earlier, the Recording Industry Association of America said. The revenue from paid subscriptions also more than doubled to just over $1 billion.