6 Facts about the music industry that'll make you go hmmm
Americans spend more than 4 hours, on average, each day listening to music.
For the first time ever, online streaming generated 51 percent (a majority) of the U.S. music industry’s revenue in 2016.
According to Forrester Research, only 44 percent of U.S. Internet users think music is worth paying for.
In 1999 — the same year Napster was launched — total revenue from U.S. music sales and licensing topped at $14.6 billion. Ten years later, it sank to $6.3 billion.
Breaking an artist into a major market can cost labels upwards of $2 million.
At $6.8 billion, the legal cannabis industry in the U.S. is less than $1 billion short of being more valuable than the entire American music industry, despite it only being legal in half of the country (a squeeze that might be achieved in 2017).