2015 will officially be looked back on as the year that streaming music took over.
Last year, revenue from streaming music services — Apple Music, Spotify, Tidal, Pandora, YouTube, etc. — became the biggest source of revenue for the recording industry. That's according to a report from the RIAA, the trade organization that represents the industry.
This is a big deal for one crucial reason: Streaming music has been growing for years, but downloads — songs you buy from the iTunes Store, Amazon, and other digital storefronts — have historically made up the majority of the industry's revenue.
That changed in 2015.
Revenues from streaming music made up 34.3% of the US recording industry's revenue, while digital downloads made up 34%. A small difference, no doubt, but a crucial one.
That's thanks not only to the growth of Spotify, but also the launches of Tidal, Jay-Z's music service, as well as Apple Music.
Streaming music is here to stay. Now if only we could find music from all artists on one service...
Check out this chart that shows a breakdown of 2015 recording industry revenues:
