The number of streaming music users will more than double to in four years to reach 950 million according to the latest forecast by Strategy Analytics. Streaming will account for 95% of all mobile music use, and that will grow the market to $12 billion by 2022.
Full track download will almost halve from $1.1 billion in 2015 to $600 million in 2022.
Source: Download Revenue To Shrink 50% As Streaming Music Grows To 950 Million Users, Says New Analysis – hypebot
When approaching price points as a representation of the value of a product, nobody’s going to feel satisfied with the price of music. A song is worth more than a dollar. And more music than you can ever listen to is worth more than $10 per month.
Yet to price a song at its value is an impossible task. To the creator, a song can be worth more than any sum of money. To potential listeners, the value differs and changes over time. Your all-time favourite song has more value to you now, than it did when you first heard it.
Source: Projecting Trends: Understanding the Price of Music
According to a new mid-year report from trusted market monitor BuzzAngle, US single track download sales fell by a whopping 24.2% in the first half of 2016 compared to the same period in 2015.
Total digital song sales hit 410.5m in the six months to end of June this year, compared to 541.2m in H1 2015 – a loss of more than 130m downloads.
Source: Download sales have fallen 24% in the past year in the US market – Music Business Worldwide