The US music-streaming market has reached another milestone: more than 1tn (one trillion) on-demand audio and video streams in a calendar year. And there’s still more than a month to go in 2019. Billboard reported the figure, based on stats from market-tracker Nielsen.
The 1.002tn streams by 21 November represents 30.9% growth year-on-year from the 765.2bn streams reached by the same point in 2018. “This explosive growth is being driven by today’s younger, more connected music fan, with 90% of teens and millennials streaming music. Accessibility to new technology, affordable premium streaming plans and the proliferation of connected devices will only serve to expedite the next trillion on-demand streams,” said Nielsen Music’s head of analytics David Bakula.
Without wishing to poop the party, for extra context US recorded-music trade revenues grew by 16% year-on-year in the first half of 2019, according to the RIAA. So the consumption growth is nearly double the industry-revenue growth, if those first-half figures are mirrored for the full year.