Engadget: Streaming music made up 83 percent of the record industry’s revenue in 2020

Engadget: Streaming music made up 83 percent of the record industry’s revenue in 2020. “The coronavirus pandemic may have made it nearly impossible to check out live shows last year, but the music industry still found a way to grow despite all the hardships. According to the Recording Industry Association of America’s annual year-end report, overall recorded music revenue increased by 9.2 percent to $12.2 billion in 2020. That growth was primarily sustained by more money coming from streaming services, with the format generating $10.1 billion in revenue in 2020, up from $8.9 billion in 2019. 2020 marked the fifth consecutive year of growth on that front.”

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