For those that said that streaming revenue would never replace that from CDs there’s this – According to a study done by Music Business Worldwide, the major labels made around $9000 every minute from streaming in the first quarter of 2017. To put it into perspective, that means $540,000 per hour and $12.5 million every day!
If this trajectory continues, it looks like the majors will make more than $5 billion this year from streaming alone, and that’s not even counting the indies.
As a comparison, streaming only brought in $2.9 billion last year, according to the annual IFPI Global Music Report.
Now let’s think about this some more. There are only a little over 100 million paying streaming customers worldwide at the moment, so there’s plenty of room for growth. People love music, and they’re more willing to pay for it on a regular subscription basis.
With the possibility of Pandora being absorbed by Sirius XM and the waning of YouTube as a free music source, coupled with the ascension of Amazon Music and the constant user gains by both Spotify and Apple Music, the situation looks better and better for the recorded music industry.
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