In 2018, the total revenue collected from on-demand streaming platforms supported by ads (including YouTube, Vevo, and Spotify (free version) increased by 15% in 2018 to reach $760 million. Besides, music streams accounted for 75% of the total industry revenue, dwarfing the revenue generated by physical (12%), digital downloads (11%), and sync (3%). (RIAA). The global digital music revenue in 2019 hit $1.5 billion. In 2019, the global market for music streaming was worth $26 billion. The global music streaming market is estimated to grow at a CAGR of 7.4% from 2020 to 2027, to reach $46.9 billion in 2027. The English crooner had 69.15 million listeners. Ed Sheeran was the most listened-to artist on Spotify in 2019. Mariah Carey’s timeless All I Want for Christmas Is You garnered 32.56 million streams. The most weekly streamed track on Spotify in 2020 is Dakiti by Bad Bunny and Jhay Cortez with 38.56 million streams. During the 2020 pandemic, 12% added streaming music services, 3% added and canceled and 5% canceled subscriptions. Besides, the number of songs streamlined online has grown more than eightfold in the last five years (between 20). In February 2019, Apple Music had 28 million subscribers, 2 million more than Spotify. In other words, the average US consumer spends less than $15 on streaming music annually. However, of the total spend, only 9% is spent on streaming music. Also, according to the Neilsen Music 360 US report, people spend approximately $156 annually on music. Moreover, the on-demand streaming platforms supported by ads streamed over 400 billion songs to users in the US, but only contributed 8% of the revenue in 2018. In total, on-demand music streaming volume (audio +video streaming), exceeded 900 billion streams in 2018, a 43% increase compared to 2017. (Nielsen). In 2018, the number of on-demand music streams grew by 49%, reaching 611 billion. 
Besides, it brought a 10.1% drop in physical revenue.
Spotify vs apple music 2017 pie chaer download#
The growth of music streaming offsets a 21.2% decline in download revenue.
The result: the music streaming market is growing rapidly, and so is the number of music streaming services providers. This, aligned with the mindset of the modern generation of music fans, has brought about a significant shift. The incentive of convenience, tons of music options, millions of on-demand songs, and multiple ways to find new songs, have left a lasting impression on consumers. Notably, music or audio streaming has become an essential part of everyday life. The influence of streaming in media and the entertainment industry is at its zenith.
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