Streaming Tops All Forms of Music Consumption in 2016

10 Jan

By Mudit Mohilay, The Tech Portal

Music consumption is growing. You only have to take a look at the number of people you meet with headphones plugged into their ears while you are out, to know the veracity of the fact. Of the various modes of consumption available, streaming has taken the crown, with the maximum music consumption in the US through this relatively new modicum.

According to Billboard, Americans streamed a massive 431 billion songs in 2016 alone. In case the massive number does not surprise you, how about this — the total digital sales of songs and albums were surpassed by streamed songs for the first time in history!

Of course, there are a few corrections to be made. A song you purchase once is yours for eternity. On the other hand, you will need to stream the same song over and over, every time you want to listen to it. And a lot of illegal downloads are probably not accounted for. That said though, 431 billion streams in the US alone is an almost incomprehensible number.

A breakdown of these numbers is even more impressive. Music addicts in the US streamed as many as 1.2 billion songs in a day as compared to the 734 million that were downloaded during the entire year.

Considering that streaming generates revenue that while less than downloads is substantially more than that obtained through piracy, it shouldn’t surprise you to know that the music industry generated an overall growth of 3 percent over last year.

As per Nielsen SVP David Bakula,

The music industry continues to grow at a healthy rate, and 2016 showed us that the landscape is evolving even more quickly than we have seen with other format shifts.

Finally, sale of actual records also recorded a surprising surge for the first time in as long as over 2 decades. As many as 13 million physical records were sold this year!

While these positive changes are in part due to the crackdown on torrents and other illegal sources of music, easing availability through streaming also had a major role to play in the boom.