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U.S. Streaming Music Grows To $1.43 Billion, Says RIAA

LOS ANGELES (Hypebot) – According to stats announced by the RIAA today, U.S. streaming music services revenue grew to $1.43 billion in 2013.

Digital royalties paid by digital performance rights organization SoundExchange, which come from both subscription and ad-supported streaming services, represented 41.3% of total U.S. music streaming revenue in 2013.

SoundExchange payments to artists and rights holders account for 8% of the $7 billion in total U.S. music revenues for 2013 up from 6.7% in 2012 and 1.1% in 2008.