The reason why the music industry is about to have a big turnaround, according to Wall Street analysts

Morgan Stanley thinks music streaming subscriptions are the real deal, and it’s predicting steady growth for the music industry on the backs of companies like Spotify and Apple Music. “We estimate that industrywide subscription streaming spending grew nearly 50% in 2015 in the US, and has climbed to ~15% of industry recorded music revenue,” Morgan Stanley analysts Benjamin Swinburne and Ryan Fiftal wrote in a note on Monday.