Streaming Boom Changes Music Landscape
A little more than a decade after Apple opened the iTunes Music Store and helped music downloads to break through to the mainstream, it appears as if listeners have already turned their backs on download stores in favor of streaming services such as Spotify and Pandora. After global download revenues had declined for the first time in 2013, the negative trend continued in 2014. According to Nielsen’s 2014 U.S. music report, single track and album downloads dropped by 12.5% and 9.4% respectively, as music consumption continued to shift towards streaming.
In total, Americans streamed more than 160 billion tracks in 2014, including audio streams as well as streams on video sites such as YouTube and VEVO. Compared to 2013, that’s a 54.5% increase of all streaming activity, meaning that the pace at which streaming is growing has accelerated compared to 2013, despite the larger base. The only medium able to keep pace with streaming in terms of growth was the LP. Vinyl sales grew by 51.8%, continuing a surprise comeback. Before music traditionalists break out the champagne, one thing should be noted though: at 9.2 million units, LPs still accounted for no more than 3.6% of total album sales in 2014.
- Revenue from music streaming in Germany 2008-2015Revenue from music streaming in Germany 2008-2015
- Music industry revenue in Sweden from 2010-2019Music industry revenue in Sweden from 2010-2019
- Forecast digital music industry revenue in Spain 2009-2018Forecast digital music industry revenue in Spain 2009-2018
- Turnover in the music industry in Denmark from 2012-2015Turnover in the music industry in Denmark from 2012-2015
- Global music industry revenue 2015-2020Global music industry revenue 2015-2020
- Music industry revenue in the U.S. 2011-2020Music industry revenue in the U.S. 2011-2020
- Market share of the largest music publishers worldwide from 2007 to 2015Market share of the largest music publishers worldwide from 2007 to 2015
- Global digital music revenue 2005-2015Global digital music revenue 2005-2015
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