How much of this fall is getting compensated by rising revenues of music streaming platforms? Any idea?
P.S. I googled and found that Apple Music’a estimated revenue is $ 9.1 bn. And Spotify paid $ 9 bn in royalty last year. Assuming that say just one-third of this comes from US market, aren’t we talking of far bigger numbers than the peak of $1.9 bn per annum reached by physical media sales in 2008 as per the above chart?
Why should that be disturbing for anyone? Whether the music industry, the artists or the consumers. It’s just that the primary mode of consumption has changed and it seems has a) democratised music distribution for the artists and b) grown the industry by multiple times.
If at all, it may be disturbing to the companies who still make only physical media players of those who listen only to physical media. The latter’s surely a small minority of music listeners, though it can be sizeable in a forum like this.
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