We show you the role of streaming in the growth of the music industrywhich has already earned market favoritism.
For thousands of years, music has been an indispensable part of the development of human history, but with the passage of time and the evolution of technology, listening to our favorite artists and genres has become a daily task. easier to do, especially with the arrival of streaming.
Having gone through the vinyl format, cassettes, records and then digital, consumers around the world have found an ally in the streaming that is capable of accompanying them in their daily musical reproduction and making their respective paths more enjoyable, where some companies have managed to benefit more than others.
According to the Statista study where it shows the number of streaming music service subscribers worldwideSpotify was proclaimed the undisputed leader by attaching 162.41 million listeners in the second quarter of 2021, while Apple Music ranked second with 78.59 million, Tencent Music third with 68.11 million, Amazon Music fourth with 68.11 million and YouTube Music in fifth with 41.91 million, among other recognized brands in the market.
The appearance of these digital companies were gradually leaving physical formats aside (such as albums) and even digital ones, such as the purchase and download of specific songs and albums through web solutions, since it became more feasible to acquire a service that would allow listening to thousands of songs under the same monthly fee, at comparison of the purchase of specific albums or songs from a few years ago.
The streaming and the music industry have come a long way to get along hand in hand, causing some conflicts along the way, as Taylor Swift demonstrated some time ago, who did not agree to “give away” some of her songs to these platforms, causing those who wanted listen to their songs should buy them individually.
However, it is worth emphasizing some benefits that these platforms promote, not only to their listeners, but also to the artists. Such is the fact of the relatively easier promotion and access to their music, which by belonging on these platforms, could cause people from all over the world to find their new favorite artist of the music industrythanks to the fact that these expanded their reach.
Likewise, currently dominated mostly by digital alternatives, more and more consumers are joining the world of online services, not only in the music sector, but also in entertainment in general (as has not been video streaming has been demonstrated), so those who bet on targeting this market will undoubtedly be the ones most likely to witness exponential growth.
Consumers of digital services will be booming in the coming years, Therefore, companies must move towards coupling their solutions to this market and thus achieve its exponential growth, as is the case with streaming.
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