Streaming on Pace to Surpass Music's Overall Sales Peak
By 2025 streaming will surpass total music industry peak revenue reached at the turn of the century, said Dawn Ostroff, Spotify chief content and advertising business officer. “The music industry is growing again.” Much streaming revenue is from subscriptions, she…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
said, but as audiences continue to migrate from linear listening to on-demand consumption, “that revenue will also come from advertising,” she told the company's virtual event Monday. U.S. consumers spend about the same amount of time listening to digital audio as they do streaming video -- about nine hours weekly, Ostroff said. Digital audio advertising hasn't had that expansion, she said, citing an opportunity to steal share from the $30 billion ad market for terrestrial and satellite radio. Spotify HiFi will roll out later this year for Premium subscribers, said the company. The music service is expanding further internationally, it also announced.