Recorded music revenues hit $23.1 billion in 2020 (Music Industry Blog)
Global recorded music revenues grew 7% in 2020 to reach $23.1 billion in record label trade revenue terms. Global revenue was down 3% in Q2 2020 compared to one year earlier, but up to 15% growth in Q4 2020, suggesting a strong 2021 may lie ahead if that momentum continues.
Paid subscription services continue to expand their reach among the music-listening public — to the tune of $10.1 billion in overall revenue generated, a growth of 13.4%.
User-Centric Streaming Payouts Explained (Billboard)
A 2021 study conducted by Deloitte based on Spotify and Deezer data found that user-centric streaming would favor rock and pop at the expense of hip-hop, while a 2014 Norwegian academic paper that used data from WiMP concluded that a user-centric approach would increase the royalties of local artists by 13%.