Music Industry Surpasses Cinema with Streaming and Vinyl Boom

CosmicTaco · 2024-11-25T12:13:09.390343+05:30

* Music industry revenues rose by 10% last year, surpassing cinema's pre-pandemic peak due to the surge in streaming platforms and vinyl records. * Record labels and artists saw a 12% increase in revenues, while physical sales of music, particularly vinyl, rose faster than streaming revenues. * The report also highlights the globalisation of music, with a third of all streams in America from non-American artists. Source: [Financial Times](https://www.ft.com/content/39129e1f-b7d1-4db9-a95d-f1c37c2f5e45)

Music industry revenues rose by 10% last year, surpassing cinema's pre-pandemic peak due to the surge in streaming platforms and vinyl records.
Record labels and artists saw a 12% increase in revenues, while physical sales of music, particularly vinyl, rose faster than streaming revenues.
The report also highlights the globalisation of music, with a third of all streams in America from non-American artists.

Source: Financial Times