What you need to know
- Music streaming has passed one trillion U.S. streams in 2019.
- The streaming industry now accounts for eighty-two percent of all U.S. music consumption.
- The growth is led by Apple Music, Spotify, and YouTube.
The streaming music industry continues to grow and take over the place of physical CDs and vinyls. Last year, the industry grew thiry percent year-over-year and, according to a new Neilsen report, crossed one trillion streams in the United States.
Reported by The Wall Street Journal, streaming services now account for eighty-two percent of music consumption in the United States. The growth in streaming continues to accelerate and is attributed to the rising subscriber base of Apple Music, Spotify, and YouTube.
Large releases from popular artists also contributed to the growth in streaming. Album and single releases from Post Malone, Taylor Swift, Billie Eilish, and Drake all helped to boost streaming growth in the country, as sales of physical albums fell by nineteen percent.
Hip hop was reportedly the most popular genre of music in streaming last year, accounting for twenty-eight percent of streams. Rock came in second at twenty percent, with pop in third at fourteen percent.
Apple never releases too many details around its subscriber base for Apple Music, but the service has grown significantly in the four years since its launch in 2015. As noted by 9to5Mac, Eddy Cue, Apple's Senior Vice President of Internet Software and Services, revealed last year that Apple Music had passed sixty million subscribers.
An earlier report from the Wall Street Journal also claimed that the service has surpassed Spotify in United States when it came to paid subscribers, although Spotify still commanded a higher subscriber base overall because of its free tier of service.