![]() Compared to 2016, streaming-generated revenue will have doubled by 2021. The daily interactions between these actors are necessary to mass produce the music – recorded and live – so many of us cannot imagine life without.Īs streaming platforms – Spotify (wannabe hipsters), Apple Music (Drake fans), SoundCloud (your rapper friends) – have continued to grow more dominant, vinyl record sales (actual hipsters) have made a surprise comeback and CD sales (your dad) have completely plummeted. There are a lot of players, too: artists, producers, engineers, distributors, labels, concert venues, ticket vendors, and the like. According to Statista, the annual revenue generated in the music industry will approach $23 billion by 2021.
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