The Future of Music Retail

​Today’s music consumption has changed significantly in just a few years. Streaming is now the dominant method of music consumption. The Recording Industry Association of America (RIAA) reported streaming in 2015 made up 34% of U.S. revenue. In 2019 that number climbed to an astonishing 80% of revenue, a 133% increase in just four years (Friedlander, 2019). What is more astounding is that digital downloading fell from 34% in 2015, to 9% in 2019, and physical retail dropped from 29% in 2015, to 9% in 2019. This extreme range is just another example of the fast pace of technology and trends. It can happen within only a few years.

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