Revenue from music sales grows
Global revenue from music sales rose by 9.7 percent in 2018. After the fourth consecutive year of growth, the music industry's turnover now stands at 19.1 billion dollars.
Streaming revenues increased by 34% and now account for almost half (47%) of global industry sales. Paid streaming was the driver in this area (up 32.9%); a total of 255 million users of paid subscriptions ensured that audio streaming accounted for 37% of total revenue last year.
Growth in streaming more than compensated for the declines in physical sales (minus 10.1%) and downloads (minus 21.2%). The digital share now stands at 58.9% worldwide.
The figures are taken from the latest edition of the Global Music Report (GMR), which was presented by the International Federation of the Phonographic Industry (IFPI) in London.
