6 Facts about the music industry that'll make you go hmmm

6 Facts about the music industry that'll make you go hmmm

MusicOctober 07, 2017

4 Hrs

Americans spend more than 4 hours, on average, each day listening to music.

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51 Percent

For the first time ever, online streaming generated 51 percent (a majority) of the U.S. music industry’s revenue in 2016.

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< Half

According to Forrester Research, only 44 percent of U.S. Internet users think music is worth paying for.

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Timber!

In 1999 — the same year Napster was launched — total revenue from U.S. music sales and licensing topped at $14.6 billion. Ten years later, it sank to $6.3 billion. 

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2 Milly

Breaking an artist into a major market can cost labels upwards of $2 million.

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At $6.8 billion, the legal cannabis industry in the U.S. is less than $1 billion short of being more valuable than the entire American music industry, despite it only being legal in half of the country (a squeeze that might be achieved in 2017).

[Additional Sources: Edison Research, IFPI, RIAA]