According to new Futuresource figures, last year was the most successful year the music industry has seen in 15 years.
While people didn’t spend nearly as much on music as they did in the heady days of the early 2000s before digital music, piracy and streaming turned the market upside down. But the amount of money spent by music fans is growing. In 2015, industry revenue grew five percent, reaching nearly $19 billion.
Futuresource looked at revenue from sales of CDs, vinyl and other physical media, of subscription services such as Spotify and Apple Music, and of pay-per-download outlets including iTunes.
A lot of the cash appears to be coming from streaming, which Big Content fought tooth and claw claiming that it would lead to more piracy. Streaming hasn’t been fully adopted worldwide. The Germans and Japanese, for example, still spend most of their music budgets on CDs.