Wednesday, December 7, 2016
Last year was a bright one for music—after several tough years of declining revenues, the industry started growing again, spurred in large part by the growth of music streaming subscriptions.
This year, the industry has even more reasons to be optimistic. Even as music subscriptions have been growing faster than any other subscription type, advertising is another powerful driver of revenue. In fact, in the last 12 months, YouTube has paid out over $1 billion to the music industry from advertising alone, demonstrating that multiple experiences and models are succeeding alongside each other.