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State of the Screens

Is Streaming Ready to Face the Music?

By March 24, 2022No Comments

2022-03-23_16-51-36

Music industry retail revenue (YoY growth) according to the RIAA:
1) 2012 – $7.0B (↓ 1%)
2) 2013 – $7.0B (↑ 0%)
3) 2014 – $6.7B (↓ 4%)
4) 2015 – $6.7B (↑ 0%)
5) 2016 – $7.6B (↑ 13%)
6) 2017 – $8.8B (↑ 16%)
7) 2018 – $9.7B (↑ 10%)
8) 2019 – $11.1B (↑ 14%)
9) 2020 – $12.2B (↑ 9%)
10) 2021 – $15.0B (↑ 23%)

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Source of music industry retail revenue (YoY growth):
1) 
Streaming – 83%
2) 
Physical – 9%
3) 
Digital downloads – 6%
4) 
Synch – 2%

29A1.1-2021Q4B

Streaming revenue for the music industry (YoY growth):
1) 
2016 – $4.0B
2) 2017 – $5.7B (↑ 43%)
3) 2018 – $7.3B (↑ 28%)
4) 2019 – $8.9B (↑ 22%)
5) 2020 – $10.1B (↑ 13%)
6) 2021 – $12.4B (↑ 24%)

29A1.1-2021Q4C

Streaming subscribers for the music industry (YoY growth):
1) 2015 – 11M
2) 
2016 – 23M (↑ 110%)
3) 2017 – 35M (↑ 56%)
4) 2018 – 47M (↑ 33%)
5) 2019 – 60M (↑ 29%)
6) 2020 – 76M (↑ 25%)
7) 2021 – 84M (↑ 11%)

29A1.1-2021Q4D

Big question #1: Which streaming service has the most U.S. subscribers?

Quick answer: Spotify.

Big question #2: Which streaming service has the most global subscribers?

Quick answer: Spotify (again).

Big question #3: How many streaming subscribers are there globally?

Quick answer: 524M

Michael Beach

Michael Beach

Michael Beach is the Chief Executive Officer of Cross Screen Media, a media analytics and software company that enables marketers to plan, activate, and measure CTV and linear TV at the local level. Michael is also the founder and editor of State of the Screens, a weekly newsletter focused on video advertising that is a must-read for thought leaders in the advertising industry. He has appeared in such publications as PBS Frontline, The Wall Street Journal, The New York Times, Axios, CNBC and Bloomberg, and on NPR’s Planet Money podcast.