Streaming was the driver of increased music consumption again last year as in 2016, representing 54% of consumption in 2017. The number on-demand audio and video music streams grew by 43% to 618 billion.
More Americans discover music by listening to AM/FM radio than by any other means. In fact, more Americans are finding music through various radio sources than did last year, with online sources not surprisingly growing in influence.
Apple is the top platform for US adults who pay for music content online, ahead of others such as Pandora and Spotify.
Some 34.3% of US recorded music revenues came from streaming services in 2015, reports the RIAA, up from 27% in 2014.
The debate about whether or not Spotify is a threat to Pandora continues, but recent research suggests the latter still has a large lead.
Digital music revenues worldwide rose nearly 7% last year to hit $6.85 billion, tying physical sales in share for the first time, at 46% each.
Among American adults who use audio players in the car, two-thirds first turn on the AM/FM radio when listening to music.
27% of US consumers listened to Pandora, vs. 7% who used Spotify.
Spotify’s audience skews much younger than Pandora’s. nearly two-thirds of US Spotify users were between the ages of 13 and 29, with 18- to 24-year-olds accounting for the largest share.
Digital subscription and streaming revenues grew by almost 29% last year to reach roughly $1.87 billion, surpassing sales of CDs ($1.85 billion) in the process, according to a report from the RIAA.