According to a recent report from the International Federation of the Phonographic Industry (IFPI), streaming accounted for 47% of global music revenue. The exponential increase in streaming has shown a growing trend of music consumers preferring digital convenience over physical purchases of products.
At the end of 2018, global music revenue increased from 17.4 billion to 19.1 billion. That sizable increase marked the fourth consecutive year of revenue growth. Digital revenues accounted for 11.2 billion, which was an increase of 21.1% from 2017. By the end of 2019, music streaming is projected to grow further and eventually eclipse sales of tangible music products.
The IFPI’s findings are a clear indication that streaming isn’t just a fad but a market that is consistently growing every year. See examples of the magnitude of music streaming by witnessing Bulldog DM’s live streaming projects or the IFPI report below:
