2016 Year In Review: Streaming Becomes Music’s Biggest Moneymaker

Published: Tuesday 6th Dec 2016 by Rashad

Scribbled in history books for some good and not-so-good reasons, 2016 brought with it some of modern music’s most memorable moments.

Now, as the year draws to a close, TGJ is reflecting on 31 moments that rocked – and to some degree shaped – the Urban and Pop musical landscape as we know it.

Next, we reflect on how 2016 saw streaming forever change the face of music consumption:

Report:

In March 2016 the RIAA revealed that data from the previous year confirmed streaming was officially the largest source of revenue for the US music industry – overtaking digital downloads and physical sales.

Peruse the chart below…

Per the report, all parts of the streaming music market grew last year [2015] and total streaming revenues exceeded $2 billion for the first time ever. Combining all categories of streaming music (subscription, ad-supported on-demand, and SoundExchange distributions), revenues grew 29% to $2.4 billion in 2015.

The news above followed reports of Billboard allowing streaming numbers to be included in chart placements as well as the RIAA’s decision to include streaming in its certifications (more on that later). In November 2016, Billboard also made the decision to include Soundcloud data in its chart placement data as well.

Thanks to the juggernaut streaming has become 2017 is sure to see more “exclusive” releases akin to Drake‘s ‘Views’ (Apple Music) and Beyonce‘s ‘Lemonade’ (Tidal).