Digital Music Industry - Statistics & Facts

Digital Music Industry - Statistics & Facts

Statistics and facts about the Digital Music Industry

The digital music industry has been gaining momentum over the last decade thanks to the consolidation and growth of a wide range of digital platforms for accessing and playing digital music, such as streaming services, downloads, digital media players, to name a few. As a result of this shift in music consumption, digital music accounted for half of the all the revenue generated by the music industry in 2015. Digital music revenue amounted to a total of 6.7 billion U.S. dollars that year. By far, the U.S. is the most profitable market for the digital music industry worldwide.

Within the U.S. digital music market, streaming and downloading are two of the most popular digital formats amongst digital music listeners. There were 72.8 million streaming users in the U.S. in 2015, whereas the number of people who uses download to access digital music stood at 42 million that year. Streaming is expected to take over as the main source for digital music in the country. By 2021, the number of streaming users is projected to increase to about 119 million. In line with the growth in number of users, revenue from streaming services is forecast to rise, and become the most profitable digital music format in the U.S. by 2016 already. Amazon Prime Music, Apple Music – Apple’s music streaming service which has the largest music track base in the market – Spotify, Deezer, iHeartRadio, Pandora, SoundCloud and Tidal are a few examples of streaming services offered in the U.S. Pandora is particularly popular amongst young listeners; nearly 50 percent of people aged from 12 to 24 stated using this service.

Americans were estimated to spend monthly about 6.7 billion hours with digital music in 2016. Amongst the most popular music genres in the country, dance/electronic music, r&b/hip-hop and Latin music are more likely to be consumed on streaming services other than on physical albums. Streaming albums accounted for 45 percent of all r&b/hip-hop music consumption in the U.S. in 2015, whereas 73 percent of Latin music was consumed via streaming. In terms of devices, Americans use computer speakers the most to listen to music; about 55 percent of them stated using this device for listening to music. Using headphones on a portable device, such a smartphone or music player for instance, is also a popular way to listen music in the U.S.

Photo: / sgback, barunpatro

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Facts on the digital music industry
Market overviewStatistic
Global digital music revenue6.7bn USD Details →
Global digital music revenue through downloads4.01bn USD Details →
Global digital music revenue through streaming4.08bn USD Details →
Estimated end-user spending for music download services4.05bn USD Details →
Value of digital music singles downloaded in the U.S.906.8m USD Details →
Share of consumers who listen to music often69% Details →
Market leadersStatistic
Digital and physical revenue market share of Universal Music Group33.5% Details →
Digital and physical revenue market share of Warner Music Group17.1% Details →
Digital and physical revenue market share of Sony Music Entertainment22.6% Details →
Online music service used most frequently among young peopleSpotify Details →
Top-selling digital song in the U.S.Justin Timberlake - “Can’t Stop the Feeling!” Details →
Top-selling digital album in the U.S.Drake - Views Details →
Most streamed music video in the U.S.Desiigner - Panda Details →
Most popular song on Shazam worldwideAvicii - Wake Me Up Details →
Mobile musicStatistic
Mobile music revenue in the U.S.40.1m USD Details →
Music consumption on mobile phones in the U.S.35% Details →
Most common source for young people to keep up-to-date with musicYouTube Details →
Share of weekly music listening time spent with streaming services28.2% Details →
Music streaming revenue3.9bn USD Details →
Most popular genre for music streamingR&B/hip-hop Details →
Number of on-demand music streams431.7bn Details →

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