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Sure, Streaming’s Transformed the Music Business. But What’s Next?

Sure, Streaming’s Transformed the Music Business. But What’s Next?

The fortunes of the global record industry can be neatly summed up in three stats: Its peak came in 1999, back when Ricky Martin was Livin’ La Vida Loca, as the world’s record companies generated nearly $29 billion; by the close of 2013, according to Ifpi data, that number had been slashed in half, falling to below $15 billion; and last year, thanks to growth almost entirely driven by streaming, it had recovered to just over $19 billion – an upswing from the industry’s nadir, but still roughly $10 billion off the peak of the CD boom.

See full article on Rolling Stone