Streaming services have been taking over the market during the past few years with the exponential growth of music platforms such as Apple Music, Tidal, Google Play, and Spotify. According to financial services company, Credit Suisse, streaming services will become a primary source of revenue within the next five years.
As you can see from the graph, 2016 shows an inflection point at which there will be an overall increase for the music industry with the takeover of subscription based services while digital downloads and physical copies decrease. This is great news for the music industry as it will finally be able to see overall growth again with big players such as Apple and Google taking over the subscription-based services.
H/T: Dancing Astronaut
Check out our official EDMTunes playlist for the freshest tracks - updated weekly!