[Statista] Paid Music Streaming Adds Half a Billion Users in a Decade

 

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MUSIC STREAMING

Paid Music Streaming Adds Half a Billion Users in a Decade

by Felix Richter, Apr 8, 2022

 

Thanks to continuing growth in streaming subscriptions, global music industry revenues grew by 18.5 percent in 2021. According to the IFPI’s latest Global Music Report, 2021 marked the seventh consecutive year of growth for the music industry that had previously struggled with declining revenues for 15 years.

Streaming accounted for 65 percent of global recorded music revenues last year, as the number of users of paid streaming subscriptions continued to soar. Last year alone, 80 million people jumped on the streaming bandwagon, bringing the total of global subscription users to 523 million by the end of 2021.

As the following chart shows, streaming subscriptions have grown relentlessly over the past decade. Starting out at 8 million in 2010, the number of users of paid music subscriptions passed 100 million in 2016 only to grow almost five-fold again over the next five years.

All statements in this article attributable to IFPI represent Statista’s interpretation of data, research opinion or viewpoints published as part of the IFPI Global Music Report in March 2022, and have not been reviewed by IFPI. Each IFPI publication speaks as of its original publication date (and not as of the date of this article’s publication).

DESCRIPTION This chart shows the number of users of paid music streaming subscriptions worldwide.

References: Statista

https://www.statista.com/chart/24506/users-of-paid-music-streaming-subscriptions/