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DID YOU KNOW?
Did you know that Youtube is the world’s largest on-demand music service today? A featured article on Forbes’ website on September 27, 2017, shows that Youtube, a Google-owned video and music platform, was hailed as the single most-used website in the world to legally listen to music. According to the data on the music consumer insight report presented by the IFPI (International Federation of Phonographic Industry) in September of 2017, streaming as a means of listening to music is still ubiquitous among the music fans around the world alongside the growing number of fans who veer towards the on-demand licensed digital services available online.
Thanks to the emergence of a wide-range of digital platforms for accessing and playing music such as streaming services, downloads, and media players available on iOS and Android platforms, the revenue of the music industry has reached a soaring amount of 7.8 billion US dollars in 2016. And just this year, a study shows a significant increase in the music consumption at a much higher rate than the past two decades. Almost all music artists are on the roll to conquering concert stadiums from all over the world and this proves a growing level of engagement of the fans. In fact, on April 16, 2018, Billboard released its 18 Hottest Tours in the Summer of 2018 including Beyonce, who just dropped her bombshell of a comeback set in the recently held Coachella music festival this year, and the Billboard Music Awardee, Ed Sheeran just to name a few artists.