The music industry's revenue continues to grow, but beneath the surface are warning signs
this week. The numbers for 2018 show that the industry is continuing on the growth path that started in 2016 after an 11-year slump: Overall growth was 13% over last year to $9.8 billion—off slightly from 2017's 17% growth over 2016 but healthy nonetheless.Interactive streaming, through services like YouTube, Spotify, Apple Music and Amazon Music Unlimited, is now dominating the industry even more than before.
In fact, CDs are on track to fall below vinyl by the end of this year—especially counting the used vinyl market, which isIn all, the music industry is continuing the trends we've seen over the past couple of years, well on its way to a new state of structural stability with interactive streaming on top. Industry watchers used to wonder whether consumers would embrace the monthly subscription model over physical products or"ownership" of permanent downloads.
If these trends continue, we should see the upper limits of the music industry's new growth engine within the next couple of years, and the U.S. recorded music industry will end up somewhere in the $12 billion range, somewhat below its $14.6 billion peak from 1999, especially when adjusted for inflation.The era of interactive streaming is recorded music's fifth era
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