From CNET: The nation's music streams are creating a flood.
US sales from streaming music in the first six months of the year surpassed $1 billion for the first time, a music industry trade group said Monday.
The Recording Industry Association of America counted revenue from subscription services like Spotify and Apple Music, radio like Pandora and Sirius XM, and ad-supported operations like Vevo, YouTube and free versions of Spotify. Those sales jumped 23 percent to $1.03 billion.
That compares to a 4 percent drop in revenue from digital downloads, the music purchases typified by Apple's iTunes Store. However, at $1.3 billion, they continue to represent the biggest moneymaker for the recording industry.
Downloads may not hold their lead much longer. In the last five years, consumers have been shifting away from buying music outright in the form of a downloaded track to paying for tunes with an all-you-can-eat subscription or listening free by sitting through advertising. This underlying shift in the music industry has led to outcries from some and praise from others as they wrestle with the changes. The trend prompted downloads leader Apple to join the streaming bandwagon in June with Apple Music.
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