Around the Net
Digital Saved Music Industry, Or Did It?
- Fortune, Friday, October 25, 2019 7:52 AM
The shift to digital sent music sales plunging. Thanks to Spotify, Apple Music and Amazon Music, streaming revenue helped to make up the losses, but profits are hard to come by. “Since 2014, the global recorded music industry has seen overall sales grow every year — from $14.3 billion in 2014 to $18.1 billion in 2018,” according to Fortune. “That’s predominantly thanks to paid streaming. Today, paid and ad-supported streaming together represent almost half of all global recorded music revenue. Physical sales of CDs and records still account for 25%; the rest comes from other avenues, like performance rights.”
