– powered by a robust 8% increase in paid subscription streaming revenues which now make up two thirds of the market.
It was an impressive year of sustained “growth-over-growth” more than a decade after streaming’s explosion onto the music scene, even taking into account a handful of formats that slowed such as permanent downloads and ringtones. And in a music business that never stands still, record companies are working every day to chart tomorrow’s course right now.
Record companies recognize the potential of many forms of AI, from innovating new studio tools to helping plan sustainable tour routes. Human creatives will no doubt find amazing new ways to put AI to work as they tell new stories and innovate new sounds. We welcome all of this and see much promise many AI tools and capabilities.
I don't really know how I feel about this🤔