Record companies made $2.4B last year from streaming, but it’s not enough

Last year, Ford added Spotify support to its SYNC infotainment system. (credit: Ford)

New figures released Tuesday by the Recording Industry Association of America show that streaming sites overtook downloads for the first time as the music industry’s single largest revenue stream.

In its earnings statement, the RIAA noted that when all types of streaming are combined (subscription, ad-supported on-demand and SoundExchange), it constitutes $2.4 billion in revenue for 2015—a rise of 29 percent over the previous year.

Still, despite the rapid rise in digital revenue, the RIAA says that's not nearly sufficient.

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