US Record Industry Could Hit $10 Billion Mark For First Time In 12 Years
September 6, 2019 courtesy AllAccess.com
The RIAA has just released data that found that the U.S. record industry generated $5.39 billion from streaming subscriptions, as well as physical and digital music in the first six months of this year — up 18% from the first half of 2018, MUSIC BUSINESS WORLDWIDE reports.
Broken down, that means the labels are raking in $30 million in retail every day, over $200 million a week.
If the second half of 2018 equals the first half, this will be the first time the industry will hit the $10 billion in revenue for the first time since 2007.
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