Is Drake underrated in the music industry

Streaming has changed the music industry over the past decade

Spotify started its music streaming service in Europe ten years ago. The Swedes managed to establish a technique that has changed the music market forever.

As Statista shows in the cover picture infographic above, the influence of streaming services on the global music market should not be underestimated. While audio streaming was completely unknown in 2007, it now accounts for over 40% of total sales.

Physical media, which still dominated the market in 2007, have since fallen below that of streaming in terms of their market share - now even in Germany. Even the records that are currently so popular, with their moderate growth, do not manage to dampen the falling sales of audio CDs.

Music downloads, which were the first purely digital format to pave the way for services such as Spotify and Co., reached their peak within the last decade - but then quickly lost their influence again with the increasing popularity of streaming.

Spotify has always had competition in the beginning. Also from Germany - who remembers simfy, for example?

But the Swedes had the support of the record companies and corresponding deals in their pockets sooner. Labels and publishers wanted to finally catch up with digitization; maybe some decisions were made too hectically. After all, the big criticism of streaming is still that it only generates marginal revenues for musicians and bands. Evenutell, after all these years and the obvious turnaround, it will now be time for new contracts between rights holders, streaming services and other stakeholders? In any case, it remains exciting ...

Spotify trivia

  • The number of artists a user listens to regularly each month has increased by 80 percent over the past 10 years.
  • In total, the more than 180 million active users worldwide have created over 3 billion playlists - and listened to music for over 16.8 million years.
  • The Swedish music streaming service's library now includes over 40 million songs and podcasts.
  • Since Spotify launched, Drake has been the world's most popular artist, followed by Ed Sheeran and Eminem.
  • Ed Sheeran's “Shape of You” is the most streamed song.
  • Ed Sheeran is also at the top of the most streamed albums with “÷”, followed by Justin Bieber with “Purpose” and Drake with “Views”.

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