Report: Streaming drives 7.4% global music growth in 2020

Streaming – up 19.9% – has propelled the industry back to growth in the last decade, with overall revenues now at US$21.6bil. — AFP Relaxnews

PARIS: The global recorded music business grew by 7.4% last year, an industry body said on March 23, as streaming continued to drive a fast-paced recovery from the doldrums of the piracy era.

The return of vinyl continued unabated with sales up 23.5% on the year before, while CDs continued their steady decline, down 11.9%, according to the annual report by the International Federation of the Phonographic Industry (IFPI).