Music Revenue Since the 1970s | Power BI | Visualise

 

This weeks Monday Makeover features music industry revenue growth since 1977.

For years music sales increased and increased as new, compact formats of music were introduced to the market and the internationalisation of bands and their songs grew audiences and captured the hearts and imaginations of listeners.

However, with the industry stronger than ever and looking to stay that way, things took a massive turn as the onset of the digital era threw an enormous and powerful spanner in the works which completely jammed the cogs on the revenues of traditional formats. This spanner took the form of digital pirating services, the first one of those being Napster. Despite Napster being closed down in 2002, the fundamental shift in listeners' mindsets about the ways music could now be obtained and consumed saw music revenues fall for years to come.

In 2006, Spotify was launched to bring some much needed justice to the music industry and the many artists that constitute it, and, despite some weariness about paying for a premium music subscription, is now the most popular music format in most countries. It must also be noted that vinyl has made an astounding comeback, demonstrating the timelessness of this music format and the fact that just like the artists that make up the industry, those who listen to it our diverse and enjoy music in more ways than just what is most popular by sales.

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