IHS: Audio streaming breathes second life into music industry revenue

Consumer and advertising revenue from recorded music in North America and Western Europe is expected to increase for the first time since 2010 as consumers shift towards streaming services, according to a new report from IHS. The research company forecasts that revenue will increase slightly from $12 billion (€10.5 billion) to almost $13 billion by 2018. In 2010, streaming audio, excluding music videos, generated 2 per cent of total recorded music revenues in the Western World. By 2014, that number had jumped to 20 per cent, driven by subscription revenue from Spotify and Deezer, and advertising revenue from Pandora. Release

 

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