The music industry is at a critical inflection point. After years of declining sales and waning fan enthusiasm, the rise of streaming has ushered in a new golden era for an industry that has benefited artists, songwriters, copyright owners, and fans alike. In 2019, streaming was the engine driving revenue growth in the US music industry for the fifth consecutive year.
Click here to view the 2020 Streaming Forward Report.
State of the Industry
Streaming has reinvigorated the recorded music industry and represents both the present and future of music; the time is now to ensure that progress is sustained and allowed to flourish. Some of the big trends right now include:
All-Time Market High
Paid subscriptions in the US alone are projected to reach $11.6 billion by 2026, and the recorded music market will be worth over $20 billion overall –an all-time industry peak.
Wider Audience Reach
In 2019, overall streaming revenues in the US increased by 21% over 2018 totals to $10.3 billion.
More Listeners Than Ever
By the end of 2019 there were 88 million paid-for streaming accounts in the US, translating to 99 million subscribers.
New Ways To Listen
90% of smart speaker owners listen to music via their speakers on a weekly basis.
Streaming Forward Report
Download the 2020 Streaming Forward report, featuring the latest updates on streaming’s role in the music industry, how digital discovery is elevating new artists and genres, and what we can expect ahead.