Music streaming to rule globally this year: Report

    The International Federation of the Phonographic Industry, or IFPI, estimates that streaming music, especially paid subscriptions, lifted worldwide revenue 9.7 % to USD 19.1 billion in 2018.
    By: ASIAN NEWS INTERNATIONAL
    | Updated on: Apr 03 2019, 11:45 IST
    At this rate, streaming is poised to become the world’s dominant way of listening to music by sales this year.
    At this rate, streaming is poised to become the world’s dominant way of listening to music by sales this year. (AP)
    At this rate, streaming is poised to become the world’s dominant way of listening to music by sales this year.
    At this rate, streaming is poised to become the world’s dominant way of listening to music by sales this year. (AP)

    Music streaming is the new age entertainment and thanks to the aggressive market, customers are spoilt for choice between various services. Given the popularity and swift adoption, music streaming is poised for global domination.

    The International Federation of the Phonographic Industry, or IFPI, estimates that streaming music, especially paid subscriptions, lifted worldwide revenue 9.7 % to USD 19.1 billion in 2018, Cnet reports.

    Out of this, streaming surged 34 % to more than USD 8.93 billion and making up for 47 % of all of the world's revenue for recorded music, while paid subscriptions accounted for 32.9 % of the global revenue.

    ALSO READ: Spotify launches in India with 30-day free trial, cheaper Premium plans

    At this rate, streaming is poised to become the world's dominant way of listening to music by sales this year. The meteoric popularity and the trend of streaming music has overtaken digital downloads as the music industry's main business model in just a few years.

    ALSO READ: YouTube Music, YouTube Premium now available for Indian users

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    First Published Date: 03 Apr, 11:45 IST
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