Apple, Spotify are Generating $7 Billion a Year in Streaming Music Revenue

spotify-dataIt took the music industry more than a decade to embrace streaming music. Now it’s a thing.More precisely: It’s at least a $7 billion-a-year business.

That’s what you get when you combine the 40 million paying subscribers Spotify reported earlier this fall, and the 20 million Apple announced Tuesday, and do some (very) basic math, assuming each subscriber is paying around $10 a month.

Source: Recode

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