Streaming revenue grew by 28%, audio/visual formats grew by 8%, and general licensing revenues — from places like concert halls, bars, clubs, restaurants, stores and hotels — declined by 30% due to businesses that were shut down or operating at reduced capacity.
Downloads dropped 3.6%, physical fell 6.5%, licensing and other revenue tanked 10.8% -- but 15.3% streaming growth boosted the company 3.8% in the pandemic year.
Smaller independents and artists direct grew fastest in 2020 (MusicIndustryBlog)
The share of Spotify streams accounted for by the majors and Merlin fell four percentage points in 2020 to 78%, down from a high of 85% in 2018. The recorded music market is one in which label market shares typically move at a near glacial pace. In comparison, this shift is nothing short of tectonic.