2 Key Trends to Watch in Music Streaming
Streaming accounted for nearly 80% of U.S. music revenue in 2019, according to a new report from the Recording Industry Association of America (RIAA). Streaming revenue grew nearly 20% to $8.8 billion for the year, totaling more than the entire industry brought in just two years ago. Meanwhile, digital downloads continued to shrink while physical sales were roughly flat year over year.
The rise of streaming has been great for market leaders like Spotify (NYSE: SPOT). Apple (NASDAQ: AAPL) has successfully navigated the shift to streaming as well, cannibalizing iTunes downloads. Other companies like Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Amazon have also carved out their own places in music streaming.
There are a couple of key trends for investors interested in capitalizing on the continued rise of streaming music detailed in the RIAA's report.
Source Fool.com
