Continuing growth of music streaming led an overall revenue increase of 8.1% for the music business during the first half of 2016, with subscriptions for those streaming services topping $1 billion for the first time during the first six months of the year.
That’s the big news out of midyear revenue figures reported by the Recording Industry Assn. of America, the music industry’s trade association.
Total music industry revenue hit $3.4 billion for the first half of this year, up from $3.2 billion during the same period last year, representing “the strongest industry growth since the late 1990s,” according to the trade association.
Capitol Records studio entrance on Yucca Street near Vine Street in Hollywood. The dispute over building a high-rise on the site of the old KFWB News 98 offices (the curved roof building) will soon be decided by the city.