Sector Focus 

The latest sounds of music

The latest sounds of music

Historically, music was conveyed in physical format only. After vinyl, therein followed the CD revolution. With increasing digitalisation, we saw the arrival of MP3 files. Apple’s (US:APPL) ascent brought us iTunes, allowing users to buy and download songs, while today subscription streaming services are the main vehicle for music consumption. Account holders benefit from ongoing access to vast music libraries and it's at this end of the market that private company Spotify dominates in terms of subscriber numbers. PricewaterhouseCoopers' (PwC) latest Global Entertainment and Media Outlook report said that in 2016 digital streaming generated revenues of $6.7bn (£5.2bn), up from $4bn a year earlier. This figure is only set to grow.

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