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Issue link: https://digital.macdirectory.com/i/1384448
goldmines they can share and profit from. Whether it’s background white noise we have on constantly while we work or kids/adults listening through their earbuds, streaming music rocks. Music streaming globally grew more than 21.2 percent last year, resulting in more than 1T on-demand streams last year. More than 400M people regularly subscribed to music channels last year, each spending an average of $156 annually while the “average” consumer spends less than $15 on streaming music. To keep pace with their audiences, the number of songs uploaded to online services increased more than eight-fold in recent years and the demand/supply continues to grow. Worth an estimated $26B last year, the global streaming market is estimated at a CAGR of 7.4 percent between 2020-2027 and is expected to reach $46.9B in 2027. Music streams account for 75 percent of the industry revenue, dwarfing physical (12 percent), digital download (11 percent) and sync (3 percent). While streaming revenues are dominated by North American listeners; Europe accounts for 29 percent, Latin America (16.8 percent), Brazil (15.4 percent, Asia/Australasia (11.7 percent and South Korea (17.9 percent). In total, the global revenue for recorded music reached $20+B last year with streaming accounting for 46.9 percent of the total global revenues. Overall, the music industry had a 34 percent growth in total streaming revenue last year. We aren’t saying that buds implanted in your ears is the best way to enjoy your music; but hey, if you like it … cool. However, the number one reason to stay with or switch music streaming platforms is the quality of the sound of music (56