According to a study by Music Business Worldwide and this article, the major labels are going to earn more than 5 billion US-$ in 2017 with music streaming. Adding approximately 28 % of independent record labels (their streaming shares in 2016), streaming could make more than 7,1 billion US-$ in 2017. Remembering that in 2016, streaming revenues “only” made 2,9 billion US-$, this would equal significantly more than doubling in just one year.
Just a few months ago, in January 2017, some media like a large Financial Times article reported that they expect streaming revenues to double until 2020 with the starting point 2016… well, mission accomplished, maybe even in 2017.
In February, I published an article in this blog with the topic:
My updated answer now is a sure “Yes”, and not only a “maybe”.
However, one big issue is still, how the little men and women in this system, the artists, songwriters, small independent labels, can benefit from this exciting development on the same level like the major labels… a difficult problem as major labels hold corporate shares of Spotify (streaming market share more than 60 %), which do not have any impact on the artist royalties, respectively even lower the royalty pay out shares in the licence negotiations.