Say goodbye, sometime next decade, to the CD. Watch the vinyl sales do whatever it does – personally a big fan of the format, but it’s not going to save the industry. Rumours are that Apple will close their downloadable service next year, too.
In recent years, on-demand streaming has emerged as a possible solution for the industry’s pains and after years of decline, the music industry has returned to growth. But despite looking like the music industry’s lifeline, streaming services such as Spotify have often been criticized in the past for not paying artists adequately.
The following chart by Statista shows that a single stream doesn’t bring a lot of money rolling in if you’re an artist with a few thousand streams, but you really don’t hear the bigger artists complain as those pennies truly add up. However, there is a substantial difference between the many services competing for the listeners’ money.
You will find more infographics at Statista