In the most recent reported fiscal year, Spotify generated approximately 13.82 billion euros in premium revenue and 1.85 billion euros in ad-supported revenue. Both figures were the highest reported to date, with premium revenue having grown by more than ten billion euros since 2017. Contributing to Spotify’s success was its strong global subscriber base – as of the third quarter of 2024, the music streaming platform had 252 million premium subscribers worldwide. Spotify has gained significant popularity across multiple markets, particularly in the United States, where over 26 percent of 18 to 34-year-olds reported using the service in 2018. Spotify’s competition Spotify’s closest competitor is Apple Music. That said, Apple’s worldwide subscribers are almost half that of Spotify’s, despite both services being popular for different reasons. Theoretically, Pandora Radio could have presented Spotify with a fair amount of competition, but this was not to be. Pandora’s radio station format failed to match Spotify’s playlist set-up in terms of popularity, and Pandora struggled to convert its users into paid subscribers, something which Spotify has always been good at. Pandora Radio received heavy investment from Sirius XM in 2017 and was officially acquired by the company in early 2019, so it will be interesting to see what happens in the future as Sirius gets to work on Pandora’s audience and attempts to generate cash from its arguably wide (but unpaid) user base. For now though, it seems that Spotify’s position remains safe.

Music streaming revenue has increased astronomically in the last ten years alone – growing from 1.9 billion U.S. dollars in 2014 to 14,4 billion in 2023. Streaming has become a popular pastime for U.S. music fans and a major source of revenue for the industry, though many traditional consumers lament the resulting decline of physical music formats. Physical CD shipments have dwindled, whilst digital music platforms are flourishing.  The world of digital music   Platforms like Spotify have millions of users worldwide, and millions of tracks are streamed via the service each week. In the U.S., more than 25 percent of adults under the age of 35 are Spotify users, as well as almost 20 percent of adults aged 55 or above. Unsurprisingly, the vast majority of digital music revenue in the United States is derived from subscriptions and streaming, and successful musicians like Drake, Eminem, and Ariana Grande  amass billions of streams each year.  Whilst many artists in the music industry generate most of their income from touring, streaming is also incredibly lucrative, generating millions of dollars in earnings.  

The statistic provides data on favorite music genres among consumers in the United States as of July 2018, sorted by age group. According to the source, 52 percent of respondents aged 16 to 19 years old stated that pop music was their favorite music genre, compared to 19 percent of respondents aged 65 or above. Country music in the United States – additional information

In 2012, country music topped the list; 27.6 percent of respondents picked it among their three favorite genres. A year earlier, the result was one percent lower, which allowed classic rock to take the lead. The figures show, however, the genre’s popularity across the United States is unshakeable and it has also been spreading abroad. This could be demonstrated by the international success of (among others) Shania Twain or the second place the Dutch country duo “The Common Linnets” received in the Eurovision Song Contest in 2014, singing “Calm after the storm.”

The genre is also widely popular among American teenagers, earning the second place and 15.3 percent of votes in a survey in August 2012. The first place and more than 18 percent of votes was awarded to pop music, rock scored 13.1 percent and landed in fourth place. Interestingly, Christian music made it to top five with nine percent of votes. The younger generation is also widely represented among country music performers with such prominent names as Taylor Swift (born in 1989), who was the highest paid musician in 2015, and Hunter Hayes (born in 1991).

Country music is also able to attract crowds (and large sums of money) to live performances. Luke Bryan’s tour was the most successful tour in North America in 2016 based on ticket sales as almost 1.43 million tickets were sold for his shows. Fellow country singer, Garth Brooks, came second on the list, selling 1.4 million tickets for his tour in North America in 2016.

According to a study on music consumption worldwide in 2022, younger generations tended to find new songs via music apps and social media, while older generations also used the radio as a format to discover new audio content.

The statistic presents a forecast of the global digital music industry revenue in 2015 and 2020. The source projected the revenue will increase from 11.7 billion U.S. dollars in 2015 to 15.7 billion U.S. dollars in 2020. The digital music industry - additional information
The rise of the internet in the past two decades has dramatically changed the music industry on many levels, including how music is produced and distributed, how artists are discovered and promoted, as well as what exactly generates profit. One of the more positive aspects of music in the internet era is perhaps the existence of platforms such as YouTube or Sound Cloud, where unknown artist can be discovered and ultimately achieve commercial success, such as pop idol - Justin Bieber. He was only 12, when a producer found his profile by accident and brought him to international fame in only a few years. The major drawback of the digital world is the high rate of illegal music downloads, which have marred the industry on a global level, as well as the low costs of legal downloads, as compared to physical recording. As of 2014, the industry has witnessed a significant drop in sales of CDs, CSs, LPs and digital albums, from 500 million units in 2007 to 257 million units in 2014 in the United States alone. Many consider that the increase in popularity of legal digital downloads cannot make up for the loss, as digital music prices do not include manufacturing and transport costs, which further hurts musicians and labels. As of 2014, the U.S. music market has witnessed a growth of the digital share of music revenues from 2.9 percent to 71 percent. With some 37 million music tracks available as of June 2015, Apple’s iTunes Store is presently the largest music retailer in the world. At the time of its launch in 2003, it revolutionized the industry with its payable downloads, but the market is moving more and more to another type of digital consumption: streaming. Platforms such as Spotify, Pandora or Deezer offer limited free access to music, which is supported by ads, and subscription-based access to an almost unlimited number of popular tracks. As of June 2015, Spotify had 75 million monthly active users around the world, up from only 15 million two years prior. According to a recent forecast, digital music streaming is the fastest growing sector of the music industry, while physical recorded music is expected to experience a negative growth rate between 2013 and 2018.

The statistic provides information on the music industry revenue in the United States from 2012 to 2015, as well as a forecast for 2016 to 2021. According to the source, the revenue will grow from 15.87 billion U.S. dollars in 2014 to 22.61 billion in 2021. In the first half of 2016, 47 percent of the revenue in the music industry came from streaming and a further 31 percent was derived from permanent downloads. Subscription and streaming digital music revenue in the United States was worth over 3.83 billion U.S. dollars in 2016.

According to a study concluded in October 2023, the highest engagement with music was through audio streaming, with 32 percent of listening time dedicated to this medium. Another popular way to enjoy music was through video streaming, with a share of 31 percent, as well as lisetning to the music on the radio at 17 percent.

As of June 2019, 68 percent of adults aged between 18 and 34 years old reported listening to music every day, and the majority of their older peers also enjoyed music with the same regularity. Daily music listening was far more commonplace among all respondents than weekly or monthly listening, with very few adults stating that they never listened to music or only did so one to two days per week. However, music consumption changed according to the age of respondents, and older generations were more likely to say that they did not listen to music at all.

How age affects music consumption

Despite the many genres and formats available (which in theory cater to every kind of music fan out there) music consumption does change with age. For example, the share of adults aged 18 to 29 years old who are avid music fans is far higher than for other age groups, and almost triple that of adults aged over 65. Similarly, rock ‘n’ roll and country/western music is far more popular among older generations, who have little enthusiasm for hip-hop and rap music, which are much more preferable among 16 to 19-year-olds.

It is not just a passion for music or a specific genre which changes, but also the way in which music is consumed. For example, studies have shown that the popularity of music streaming sources generally dwindles with age, and platforms like YouTube reach more adults aged under 25 years than older generations, whereas Baby Boomers are more willing to pay for music on vinyl records than Millennials or Gen Z respondents.

Music streaming revenue has increased astronomically in the last ten years alone – growing from 1.9 billion U.S. dollars in 2014 to 14.9 billion in 2024. Streaming has become a popular pastime for U.S. music fans and a major source of revenue for the industry, though many traditional consumers lament the resulting decline of physical music formats. Physical CD shipments have dwindled, whilst digital music platforms are flourishing.  The world of digital music   Platforms like Spotify have millions of users worldwide, and millions of tracks are streamed via the service each week. In the U.S., more than 25 percent of adults under the age of 35 are Spotify users, as well as almost 20 percent of adults aged 55 or above. Unsurprisingly, the vast majority of digital music revenue in the United States is derived from subscriptions and streaming, and successful musicians like Drake, Eminem, and Ariana Grande  amass billions of streams each year.  Whilst many artists in the music industry generate most of their income from touring, streaming is also incredibly lucrative, generating millions of dollars in earnings.  

According to a study from 2024 on music streaming services, Spotify was the most popular service in the United Stats that year. While 31 percent of music listeners used Spotify, YouTube closely followed with a share of 30 percent.

The music industry in Japan recorded 337.2 billion Japanese yen in sales generated via recorded and digital music in 2023. As a breakdown by format shows, recorded audio music continued to be the largest format, followed by streams.

Music industry in Japan

Music holds a cherished place in Japan's society. One notable aspect of the Japanese music market is the enduring popularity of physical formats like CDs, which have maintained significance despite global trends favoring digital streaming. The popularity of CDs is partly due to the strong fandom culture that drives fans to support their favorite idols or bands through physical item purchases. Despite the enduring popularity of CDs, Japan's music industry has seen a shift towards streaming services in recent years, as evidenced by the increasing sales value of music streaming. This shift in revenue stream prompts traditional music companies to expand into new areas and also to diversify their business into non-music sectors.

Music-related media usage trends in Japan

In Japan, television once held a significant influence over music popularity, driving CD sales through numerous music programs. However, the average television viewing time has been decreasing annually, while the time people spend on social media has been increasing. This change has impacted people's engagement with music. The internet and social media platforms have made it easier for anyone to share their music, leading to an increase in the number of artists whose songs achieve hit status and debut via platforms like TikTok. Additionally, there has been a shift in the type of music that becomes popular with the rise of music streaming. The ability to listen to music anytime has widened the gap between release times and success, emphasizing the importance of sustained popularity for hits.

The statistic presents data on the results of a survey about what kind of music fans consumers in the United States consider themselves to be, as of February 2019, by gender. During the survey, 47 percent of female respondents stated that they were avid music fans.

The statistic depicts the results of a survey on the share of respondents who would be interested in learning more about the music industry. During the survey, 23 percent of respondents stated that they would be very interested in learning more about this industry.

Data on recorded music industry revenue in the United States from 2009 to 2023 shows steady growth from 2015 onwards. The revenue reached 11 billion U.S. dollars in 2023, up from the 10.3 billion reported in the previous year. Music is the revenue driver of the audio market With music being part of everyday life as well as a popular form of entertainment, it has been the most popular audio format and is likely to remain the revenue driver of the industry. Global recorded music revenue alone generated a total of 28.6 billion U.S. dollars in 2023. In the United States, recorded music industry revenue amounted to 11 billion U.S. dollars in 2023, which is more than twice as much compared to 2009. Streaming is dominating music consumption Over the years, streaming has become increasingly popular, overtaking other forms of music consumption. Especially physical sales of music have experienced a sharp drop in numbers, only slightly recovering in recent years. Nonetheless, while streaming is by far the most popular way of consumption, the boom it has experienced over the last 10 years or so seems to be slowing down. In 2022, global music streaming revenue only grew by 11.5 percent, which is a significant drop from the growth rate of 24.3 percent in the year before.

This statistic shows the public opinion on the music genres which are most representative of America today in the United States as of May 2018, by age. During the survey, 57 percent of respondents aged 55 and older stated that they considered country music to be representative of modern America.

Data on the distribution of streamed music consumption in the United States showed that rock music accounted for 17 percent of all on-demand audio and video streams in 2021. The leading genre by streams was, as is almost always the case, R&B and hip-hop.

Most streamed artists

The demand for streamed audio content is growing year by year, and in 2021, the number of paid music streaming subscribers in the United States exceeded 92 million. So which musicians are topping the digital charts? Based on the most recent data, The Weeknd, Justin Bieber, and Ed Sheeran were the top artists on Spotify based on monthly listeners in 2022. The top-10 ranking was visibly dominated by pop singers and bands that year, although Doja Cat and Eminem were the acts that amassed the largest monthly audience within the R&B and hip-hop genre.

Keeping it classical

A closer look at the distribution of music consumption in the U.S. by genre and format reveals that fans of jazz, rock, and classical music were among the most likely to listen to artists via physical formats. Between 13 and 27 percent of surveyed respondents stated that they listened to these genres via physical albums, which was above the industry average. One reason for this sense of audio nostalgia could be that these genres are particularly popular with listeners from older, less tech-savvy generations.

Data on the amount of time spent listening to music in the United States in 2019 revealed that consumers spent an average of 26.9 hours per week enjoying their favorite tunes, down from 28.3 hours per week in 2018. Weekly consumption in 2017 was even higher at 32.1 hours.

In 2023, revenue from digital album downloads amounted to 204.7 million U.S. dollars, less than half the figure recorded in 2018. Meanwhile, subscription and streaming revenues have been increasing annually and reached 14.36 billion in 2023, making up the vast majority of revenues for the entire music industry. Digital music – additional informationThe increase in digital music revenue, more specifically subscription and streaming services, may be down to the accessibility and availability of digital music. For legal downloads, consumers can pick between services such as Spotify, Apple Music, and Pandora. Of course, there are countless numbers of illegal sites which distribute digital music also. In 2019, approximately 34 percent of global internet users aged 16 to 24 admitted to accessing music through music ripping, the most popular method being copyright infringement.Digital music sales have made a huge impact on the listings of best-selling lists with digital sales either being combined with physical sales or set apart. The list of the top-selling digital songs in the United States in 2020 features artists such as The Weeknd, Tones and I, and Megan Thee Stallion. The title for the top selling digital song goes to ‘Blinding Lights’ by The Weeknd. The song sold over 372 thousand units in the United States from January to July 2020. Nevertheless, the share of the digital music market does not always directly correspond to the value of the digital market. The value of digital music singles downloads in 2018 amounted to 490.4 million U.S. dollars, which marked a drop in value from 678.5 million in 2017. The value of digital album sales also saw a decrease from 668.5 million in 2017 to 499.7 million in 2018.

In 2023, global music revenue generated by digital music and downloads remained unchanged compared to the previous year, at the level of 0.9 billion U.S. dollars. It was the lowest figure reported since 2005.

Music streaming is still in the lead

The music industry has undergone fundamental changes due to the shifts in consumer demand and behavior. In 2022, global recorded music revenue hit an all-time high of around 28 billion U.S. dollars, and while this figure was partially fueled by the revival of the live music sector, the top driver of growth was streaming. Music streaming accounted for an estimated 67 percent of industry revenues in 2023, whereas digital downloads contributed less than five percent to the annual total. Audiences have come to prefer access models over ownership in recent years, which is no surprise considering the extensive range of titles available for a set rate on platforms like Spotify.

Best-selling titles

Most music lovers listen to their favorite tracks and discover new artists via streaming platforms. And yet, some fans also choose to pay for individual music purchases, be it via digital downloads or in physical formats. In 2023, Seventeen's “FML” was the best-selling music album worldwide, with over six billion units sold. The K-pop band featured two of its albums in the same ranking that year. However, when it comes to vinyl, Taylor Swift led the ranks there. Her albums took up the top three spots on a list oftop-selling vinyl albums that same year.

A survey, conducted in the United States in October 2023, found that social media and user-generated content (UGC) are the main drivers for music discovery among Gen Z and Millennials consumers. That year, 82 percent of respondents from Generation Z and 70 percent among Millennials stated that they discovered music like this. These figures decrease significantly for older generations, for whom radio stations play a more important role for their music discovery.