Total global music, radio and podcasts revenue are predicted to increase by 3.6% a year from US$94.9bn in 2017 to US$113.4bn in 2022, with growth largely generated by the recorded music segment according to accountancy giant PwC’s latest Global Entertainment & Media (E&M) Outlook 2018-2022.
Consumers in developed markets are signing up for subscription-based music-streaming services from leading providers, as well as from more niche streamers, as the demand for owning music recordings wanes.