Paid Music Streaming Adds Half a Billion Users in a Decade

 

by Felix Richter, Statista

 Thanks to continuing growth in streaming subscriptions, global music industry revenues grew by 9 percent in 2022. According to the IFPI’s latest Global Music Report, 2022 marked the eighth consecutive year of growth for the music industry that had previously struggled with declining revenues for 15 years.

Streaming accounted for 67 percent of global recorded music revenues last year, as the number of users of paid streaming subscriptions offered by Spotify and other platforms continued to soar, although growth rates weren't as high as in the previous years. In 2022, 66 million people jumped on the streaming bandwagon, bringing the total of global subscription users to 589 million by the end of 2022.

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As the chart shows, streaming subscriptions have grown relentlessly over the past decade. Starting out at 8 million in 2010, the number of users of paid music subscriptions passed 100 million in 2016 only to grow almost five-fold again over the next five years.