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The Wall Street Journal: Streaming subscriptions continue to power music industry’s recovery

Revenue from recorded music accelerated in the first half of 2017 in the U.S. as more consumers shelled out for subscription streaming services.

Retail revenue jumped 17% in the first six months of the year to $4 billion, according to the Recording Industry Association of America, thanks to a record 30 million music subscriptions to services like Spotify AB and Apple Inc.’s AAPL, -1.68% Apple Music. That represents almost 1 million new subscriptions each month compared with last year.

While rapid growth continues trends from last year — streaming continues to buoy the industry amid declines in traditional unit sales — overall revenue in the music industry is dwarfed by counts from the 1999 peak, when the boom in CD sales powered full-year sales to $14.6 billion in the U.S.

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