Said with the jargon of the centennialsa new report from the IFPI has revealed that streaming already “invoices” income of up to four times more than the physical format, this includes CD, vinyl and the resurgent cassette, making it clear that digitization continues to strengthen and the old Habits are just a tendency toward nostalgia.
It was in 2006, just under 20 years old, when Spotify hit the market, although its popularity was slow to grow; However, today it is the music streaming platform with the most registered subscribers.
As of today, the Stockholm platform already has more than 500 million monthly active listeners, consolidating itself, once again, as the space to follow for artists and, of course, for the same music industry.
And it is that, we must not forget that with the arrival of digitization, consumption habits underwent an important modification; cinema, television and music are consumed in a very different way today.
In that sense, the music industry is no longer governed by record sales, but by likesreproductions, streams and views on the various platforms that inhabit the market, call it Apple Music, YouTube Music, Deezer or Spotify.
streaming exceeds income from CD’s and vinyl and cassettes
More than 40 years have passed since the first CD was released on the market and, with it, came a more than important revolution in the music industry, so much so that until two decades ago, record sales ruled the market.
Today, the situation is different and both the CD, the vinyl and the cassette they are already part of the nostalgia industrystill generating considerable income.
However, the streaming continues to grow by leaps and bounds, and above all continues to increase its income, as reported by the International Federation of the Phonographic Industry (IFPI).
According to one of his most recent reports, the streaming It already “invoices” up to four times more than the physical format. In fact, according to what has been revealed, In 2022, the different streaming music platforms gave the world recorded music industry revenues of up to 17.5 billion dollars.