New Research Find That The Internet Boosts Growth For Legacy Music Industry

Brussels, BELGIUM — The Computer & Communications Industry Association released a white paper that compiles various studies and data showing digital distribution helped grow profits for artists and companies. Senior Manager for CCIA Europe Victoria de Posson, who authored the paper, said that statistics on online subscription and revenue growth show online distribution is providing value to artists, music labels and consumers.

Since 2014, music collections have grown continuously, with global income rising by 26.8% between 2014 and 2018. The recording industry’s own Global Music Report 2019 reported the market grew by 9.7% in 2018. Streaming revenue grew globally by 34% (29.2% in Europe) and accounted for 46.9% of global revenue, driven by a 32.9% increase in paid subscriptions.

The following can be attributed to de Posson:

“It is often heard that the Internet is killing the music industry. However, the evidence shows that internet services and online distribution create continued growth for legacy music players and more music choice than ever for consumers.”

For media inquiries, please contact Heather Greenfield [email protected]

 

 

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