American Songwriter participates in affiliate programs with various companies. Links originating on American Songwriter’s website that lead to purchases or reservations on affiliate sites generate revenue for American Songwriter . This means that American Songwriter may earn a commission if/when you click on or make purchases via affiliate links.
Top streaming service Spotify is worth more than the US music industry, according to a new report by the Wall Street Journal stating that the company is close to closing a deal for $400 million in new funding.
Videos by American Songwriter
Once secured, the deal will bring Spotify’s value up to $8.4 billion; in a year-end report, the RIAA states that the US music industry’s 2014 revenue totaled $6.97 billion.
Streaming services make up 27% of the industry’s revenue, and paid subscriptions have doubled since 2011, bringing the total number of subscribers up to 7.7 million. Total industry revenue from paid streaming services is estimated at about $1.87 billion.
Leave a Reply
Only members can comment. Become a member. Already a member? Log in.