The record companies and those in charge of propagating the music have finally realized that radios and the physical format have their days numbered. While it is true that the best way to thank your idol's musical content is to buy his album, more and more users know that the record business does not correspond to the content they offer, which is why platforms Online music brands like Spotify and Apple Music have become popular and have attracted millions of customers to their monthly subscriptions. The latest data leaves overwhelming figures on how Spotify is saving the accounts of the big record companies and the music industry in general.
And it is that according to the International Federation of the Record Industry, the music production companies have managed to invoice during this year no less than 15.700 million euros. The amount of money is not bad at all, in fact it is 5,9% more than last year. But… How has the situation changed so much in an industry that had fallen by more than 40% in the last twenty years? Much of the blame is on the digital market, Spotify, iTunes, Apple Music and the rest of derivatives.
More specifically, half of the turnover of these companies already comes from this type of media, since they serve music on demand and daily to no less than 112 million paying usersIf we count free users, we must target up to 212 million people. This means that industrial music has found its best ally on the internet, already ending the battle of illegal downloads, in fact, pirated content has fallen by no less than 20,5% as we are told in Digital Economy, which is great news for the health of digital content.