Music streaming is a booming industry and it’s only getting bigger every single year with 3000% more streams last year than in 2012.
Figures released by music industry body BPI show that for the first year, music streaming broke the 100 billion mark in 2019. The last decade’s surge in music streaming has made for 5 years in a row of rising music consumption after the industry slumped with from rife music piracy.
BPI’s report shows that in 2019 songs were streamed 114 billion times, a landmark number. To put into perspective how streaming is growing, streams have risen 3000% since 2012 when the streaming figures began.
As of last year streaming now accounts for 74.4% of the entire Album Equivalent sales throughout the year. The increase in streaming is seen month by month, with December showing the highest weekly total of streams ever recorded. 2.7 billion weekly streams were had in December.
Chief Executive of BPI & BRIT Awards, Geoff Taylor said: “British music proved once again in 2019 that it has a bright future. Strong demand for streaming music and vinyl, fuelled by the investment and innovation of UK labels in discovering and promoting new talent, boosted music consumption to levels not seen for 15 years.
“But the full benefits of this growth can only be unlocked if our new Government takes action to make the UK more competitive and encourage further investment, to require digital platforms to pay fairly for music and filter out illegal content, and to give all our schoolchildren the opportunity to play an instrument and discover the joy of making music.”