The revenue recovery of the music industry as a result of revenue growth from streaming

The global music industry is going through a period of transformation. The turn of the century marked the beginning of a decline in the music industry’s revenue. Digitization and convergence of production and distribution systems have enabled illegal loading and sharing of music content between users. Global music corporations have been forced to completely change the way they do business and generate revenue. The aim of this paper is to point out the changes in the management practice of global music corporations as well as the change in the structure of revenues. The research and analysis are aimed at comparing the change in the revenue structure of global music corporations in relation to the structure of total revenues. The survey includes the three largest music corporations that generate the bulk of the revenue of the overall music industry. In the last five years, the revenues of the music industry have been growing exponentially, which indicates the recovery of the music industry on completely new development models.