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Apple Music Attracting New Streaming Subscribers to Aid in Music Industry's 'Fragile Recovery'
The music industry is facing a "fragile recovery" at the hands of popular streaming services like Apple Music and Spotify, according to new data collected by the Recording Industry Association of America (via Bloomberg). In total, the music industry in the United States is on track to grow for the second year in a row, which would mark "the first back-to-back growth since 1998-1999."RIAA's data showed that streaming revenue in the U.S. grew 57 percent in the first half of 2016, reaching $1.6 billion, and accounted for almost half of industry sales, while subscriptions totaled $1.01 billion. Altogether, the industry grew 8.1 percent to $3.4 billion in the first half of 2016, which is on track to best the $7 billion yearly average of the last six years.