Proof Point
Music sales started growing again in 2015 after experiencing continuous decline between 1999 to 2014, driven by rise in music streaming services
Global Recorded Music Revenues
1999 – 2017 (US$ billions)
Proof Point Findings
- Music Revenues – Revenues gained from sale of music records, either through physical formats, such as CDs and vinyl, digital downloads and streaming services
- Growth Returns – Music industry growth returned starting in 2015 with revenues increasing to $14.6 billion in 2017, after continuous drop from $25.2 billion in 1999 to $11.9 billion in 2014
- Streaming Surpasses Physical – Streaming services became largest music revenue generator in 2017, delivering $6.6 billion in revenue, surpassing physical sales of $5.2 billion and digital download sales of $2.8 billion
- Digital Downloads Decline – After reaching peak $4.4 billion in 2012, sales from digital downloads declined in 2013 to $4.3 billion and was surpassed by streaming services in 2016 with $4.7 billion compared to digital downloads’ $3.2 billion
- Key Growth Drivers – Include popularity of music streaming services, more users foregoing ownership for access, increasing mobile device dependence, and more artists willing to partner with streaming providers to distribute music
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Accelerator |
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Market Disruption |
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Sector |
Media and Entertainment
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Source |
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Date Last Updated |
October 19, 2018
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