Global music sales hit high on streaming boom

Music sales rose robustly for a second straight year to show growth not seen in two decades thanks to the rapid adoption of streaming, the global industry body said Tuesday.

Despite sliding CD sales and downloads, revenue from recorded music around the world grew 5.9 percent in 2016 to total $15.7 billion, the International Federation of the Phonographic Industry said.

Streaming revenue jumped 60 percent in 2016. Spotify led the way but the report said the market was buoyed by rising consumer choice among on-demand platforms including Apple Music, Tidal and Deezer.

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Global music sales hit high on streaming boom

Music sales rose robustly for a second straight year to show growth not seen in two decades thanks to the rapid adoption of streaming, the global industry body said Tuesday. Despite sliding CD sales and downloads, revenue from recorded music around the world grew 5.9 percent in 2016 to total $15.7 billion

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