The music industry is continuously evolving. Someone could think it was better in the past, but the global recorded music market grew 9.7 percent last year, mostly thanks to the streaming (now accounting for almost half of total revenue). It’s not all. It was the fourth consecutive year of growth. Streaming revenue grew a lot (34 percent) and accounted for 47 percent of global revenue, the paid subscription streaming also increased (32,9 percent).
Despite decline in physical revenue, music industry grows: there were 255 million users of paid streaming services at the end of 2018, with paid streaming accounting for 37 percent of total recorded music revenue.
“Music has truly become global – in ways never before imagined,” said IFPI Chief Executive Frances Moore in a statement.
Artist such as Drake and Ed Sheeran conquered the world, contributing to the growth.
Latin America was the fastest-growing region with Brazil and Mexico, the second – largest region was Asia, especially with South Korea.
