How has streaming changed the music industry in recent years?.

Streaming services like Spotify and Apple Music have dramatically transformed the music industry landscape in several ways:

Key Facts

• In 2023, streaming accounted for over 80% of global music revenue.
• More than 500 million people worldwide use paid music streaming services.
• Major record labels reported revenue growth of 20% due to streaming.
• The number of songs streamed on platforms increased by 25% in the last year.

Examples or Use Cases

• Emerging artists can gain exposure without traditional record label deals.
• Playlists curated by streaming services often dictate song popularity and chart success.

FAQs

• What impact does streaming have on artist royalties? Streaming often provides lower per-stream payouts, but increased volume can lead to higher overall earnings for popular artists.
• How do streaming platforms decide which songs to promote? Algorithms analyze user data, listening trends, and playlists to boost visibility.