Radical change in the music industry
In a recent paper, the UK Competition and Markets Authority (CMA) takes a detailed look at economic developments in the music industry.
The CMA has not failed to notice that streaming has revolutionized the music industry. Sales in the UK rose to 1.1 billion pounds (approx. 1.3 billion Swiss francs) in 2021, and 80 percent of music is now consumed via streaming.
The availability of music from all eras and parts of the world means that older titles are receiving more attention. 86% of streams in 2021 contained music older than one year. The number of artists streaming their music also doubled between 2014 and 2020, from around 200,000 to 400,000, with a small group of superstars benefiting from the lion's share of sales.
More info:
https://www.gov.uk/government/news/cma-shines-a-light-on-music-streaming
