Vinyl is now a billion-dollar business while streaming soars
Music report reveals revenues are now higher than global box office receipts
The value of music sales and streaming has nearly doubled in a decade
Revenues are growing 11% year on year, but artists aren’t profiting
Here’s a pair of facts we never thought we’d see: music is now a bigger business than cinema and vinyl is about to overtake CDs. That’s according to a new report by Spotify’s former chief economist, who’s been tracking the value of the music business for a decade.
Will Page has spent ten years calculating the value of music copyrights and performing rights, which are the rights that generate payments when music is pressed onto records, streamed over Spotify or played on the radio.
