2017 saw global music revenues hit $17.4bn in trade values, an increase on 2016’s $16bn total. According to new research from Midia, the global total is now just below 2008 levels ($17.7bn).
Streaming provides a boost
The main driver of that growth was streaming, which boosted its revenue by 39pc year-on-year, representing an impressive 43pc of all revenues. Legacy format sales such as CDs, vinyl – and even downloads – declined by 10pc but the growth for streaming outpaced this dip comfortably.
Universal Music Group held firm on its lead in the major label stakes, securing 29.7pc of total …read more
Source:: Silicon Republic News