A look at the growth of streaming revenues over the decade

Representative picture. Credit: iStock image

As more and more users move to streaming services, the recorded music market grew by over 18.5 per cent year-on-year, according to the IFPI’s latest Global Music Report, 2021.

Streaming accounted for 65 per cent of music revenues, of which 47.3 per cent came from suscription audio streams.

Over the decade, revenues from audio streaming grew 2,716.67 per cent from $0.6 billion in 2011 to $16.9 billion in 2021.

Here's a graph showing the rise in streaming revenue since 2011:

USA, Japan, UK and Germany were among the top music markets globally for recorded music, the report showed.

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