Streaming set to revive music industry

Streaming revenues are set to soar over the next decade, allowing the music business to emerge from its generation-long recession

GLOBAL MUSIC REVENUES ($ billion)
Physical
Digital downloads
Forecast
Streaming
Other*
40
35
30
25
20
15
10
5
0
1997
2000
2015
2020
2025

Drake, world’s most streamed artist, with over 4.7 billion streams on Spotify alone in 2016

100 million: Paying subscribers worldwide – milestone reached 
Dec 31, 2016
NUMBER OF STREAMS REQUIRED TO EARN $1†
Apple Music ‡  
Spotify Paid Ads
Pandora Paid Ads
YouTube Paid Ads

1,000
800
600
400
200
0

*Includes personalised streaming services, performance rights, film/advertising usage

†Sound recording, publishing and performance revenue combined     ‡Paid-for service (Ads = free)

Sources: Goldman Sachs, Manatt, Phelps & Phelps, Financial Times, wire agencies