Streaming revenues reached $14.2 billion, up 19.6% from 2019, adding $2.3 billion, up from the $2.2 billion added in 2019. So, 2020 was another year of accelerating streaming growth and, given that Spotify’s revenue growth increased by less in 2020 than 2019, this indicates that it is for the first time meaningfully under-performing in the market, due to the rise of local players in emerging markets and strong growth for YouTube.
Source: Recorded music revenues hit $23.1 billion in 2020, with artists direct the winners – again