Global Music Forecasts 2015-2020 Declining Legacy Formats Cancel Out Streaming Growth
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The 20,000 Foot View
In a few short years streaming has gone from being an interesting sideshow to the most important component of the recorded music market in terms of impact, innovation and disruption, though not in revenue terms. Indeed streaming still only represents of all recorded music revenue but its growth is directly impacting virtually every other aspect of the industry. For the next five years the music industry will evolve at twin speeds, with the dynamic streaming sector sitting in stark contrast to the declining but still dominant legacy formats of the CD and the download.
Key Findings- 2014 was big year for streaming but of the revenue growth it to Nordic markets in 2013
- Global recorded revenues were billion in retail in 2014, down on 2013
- Global digital revenue stood at billion in
- Global recorded revenues will still be declining 2020 in retail value revenues billion, down on 2014Japan, of global revenues, continues to drag the global total due to domestic revenues
- Digital will of all recorded music revenues 2020
- Markets where has been strong now have growing digital revenue than those iTunes did not get a
- Latin America one of the few regions will experience music revenue growth 2015 and 2020
- Declining sales CDs and downloads, coupled with from live, other digital media free music will offset streaming
- Streaming growth peak in 2015 and will of total music revenue in of digital revenue)
- Streaming slowed growth between 2012 and 2014 to its impact on download
- By 2020 will be million music subscribers up from million in 2014
- In 2014 accounted for of streaming revenue billion and will grow to in 2020
- Free streaming had billion users in 2014 the unique audience was million
- Blended monthly ARPU (free and paid) was
- Consumer spending digital music declined by in with the increase in digital driving overall digital growth
Companies mentioned in this report: Apple, Amazon, Deezer, Digster Playlists, Google, Guvera, iHeart Radio, Mixcloud, MTV, MusicQubed, Pandora, PRS for Music, Psonar, QQ Music, Radionomy, Rdio, Rhapsody, Slacker, Smart, SoundCloud, Spinnr, Spotify, Tenecent, YouTube