Figures recently released by the Entertainment Retailers Association show a 65% rise in revenue in 2016 from music streaming platforms like Apple Music and Spotify.
Compared to the uplifts of videos and games, music is the UK’s fastest growing entertainment industry. Despite a 27% fall in downloads and a 12% year-on-year fall in CD sales, the ever-growing popularity of vinyl combined with the incredible streaming figures, mean that the uplift of the music industry is 4.9% and beats out the 2.2% uplift from videos and the 2.9% uplift of video games.
Investment into new services such as Spotify, Amazon and Sky have meant that sales across the entertainment business reached an all time high last year, raking in £6.3bn.
Drake’s “One Dance” lead the charge in terms on song streaming, amassing over 140 million streams in its 15 weeks as a UK number one single.
If you ever needed further confirmation, there it is; there’s money to be made in music.