The worldwide recorded music industry generated $21.5bn across all formats last year, growing 11.4%, according to Midia Research. Some 56% of that, or $11.9 billion, came from streaming platforms like Spotify, Apple Music, Amazon Music and YouTube. Interestingly, Midia has revised upwards its preliminary estimate for the ‘artist-direct’ sector, i.e. those DIY artists independently uploading their own music via platforms like Amuse, Ditto, TuneCore, CD Baby etc.
