Interest in music streaming has grown rapidly in recent years. According to the blog Music Industry Blog the streaming industry had a great time in 2017 and it can be called a stellar business after this year. Worldwide revenue from streaming music is about $17,4 billion this year, which is $1,4 billion more than in 2016. The increase is roughly 8,5%.
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However, different sources provide different information about the profitability of purchased and streamed music. According to some sources, streamed music now generates more revenue than purchased music, while others claim the opposite. These claims depend mainly on the method of measurement. The main reason for this “ambiguity” is the licensing fees for musicians, which are negotiated individually by streaming companies. In short, this means that a streaming company streaming far more songs can inoneAs a result, it will profit far less than a company that streams significantly fewer songs but has agreed with musicians to pay very low royalties, leaving its profit almost untouched.
Apple Music has had a significant impact on the growth trend. Recently, Apple's music service gained 40 million subscribers. One analyst even predicts that the music service Applu will see a 40% year-on-year increase in the coming years, which could soonchat on the back of the still unattainable Spotify.
