Music streaming has unquestionably become the predominant means of enjoying music, replacing traditional physical media and expanded far beyond the live sector by providing user-friendly, high quality, and affordable access to the largest possible repertoire anytime, anywhere, online, or offline.
Songs and compositions are at the heart of this thriving market, which counts 524 million users on subscription-based music services globally, reaches more than 2 billion users including the streaming on UGC platforms, and offers more than 70 million tracks from approximately 8 million artists.
Yet, the authors and composers cannot benefit adequately from this success, and the debate over unfairness of this market is gaining traction across Europe and around the world.
There is a need to look more closely at how songwriters and composers are connected to this thriving economy and what can be done to improve their currently neglected situation.
Read below to find out more about the Music Streaming market.