Two recent reports point to streaming as the key reason behind music’s first year of significant total revenue growth since 1995. A recently report by the International Federation of the Phonographic Industry (IFPI) says global music revenue rose 3.2% in 2015 from the previous year. The IFPI says $15 billion was spent around the world on music last year.
IFPI’s report confirms data recently released by the Recording Industry Association of America (RIAA) which indicated that digital is now the biggest share of the American music industries. Revenue spent on music from digital sources was up 10.2% to $6.7 billion. Streaming music accounts for an estimated 43% of the digital revenue in 2015.
In the US, streaming music was 34.3% of all recorded music revenue in 2015. RIAA says the report confirms that streaming music continues its rise in both cultural and financial importance for the music industry.
BOSTON’S NEWS BATTLE BOOSTS BOTH WBUR & WGBH
Nielsen Audio’s March PPM estimates confirm that competition between NPR News stations WBUR and WGBH has resulted in increased listening to both stations. The estimated number of weekly cumulative listens grew between February and March by 12% at WBUR and 6% at WGBH.
Here are the March results for Boston and four other key markets:
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