Recording Industry Association of America recently announced some pretty interesting data about the US music market. Looking back 10 years, it is safe to say the music streaming industry has begun its rule.

New infographics from the RIAA shows an immense growth for the music streaming industry—this industry 10 years ago occupied only 7% of the market, while physical music still reigned with 52%. The digital downloads were on the rise at 38 percent. Now, at the end of the decade, the streaming industry rose to the top with 80 percent, and rest of these categories occupies only 9 percent of the US market. Paid music subscriptions also saw an impressive surge over the decade.

While it only drew in around 1.5 million subscriptions in 2010, the end of 2019 saw a whopping 61 million, with indications that it would continue to grow, giving a solid reason for companies to offer larger bundles in the near future—e.g. market participants Amazon and Apple combining subscription packages for both their video and music streaming services.

 

Posted by:Staff

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