Streaming continues to boom and is by far the leading way that most people access music. With a rise of twenty per cent streaming now accounts for more than 80% of overall music consumption in the UK last year. Vinyl sentimentalists can content themselves with a rise in vinyl sales that saw the older format consolidate its third place but still way behind CD sales and both of them combined barely 20 per cent of the modern market.
The dominance of streaming has been controversial in the last few years with the low royalty rates for musicians with Spotify in particular getting flack. Curiously many people don’t mention youtube who pay zero. Hopefully these issues will be dealt with this year and a better model will be created in the post pandemic world. For a music fan there are many advantages in streaming but the musicians need to be paid properly…it’s the age old problem.
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