On-demand streaming passes 1 trillion in the U.S. for the first time
The streaming surge continues
On-demand streaming has surpassed 1 trillion in the US for the first time.
During November, Nielsen Music reported that combined audio and visual streaming had surpassed 1 trillion for the first time ever in a calendar year. In the same period in 2018, week commencing the 21st November, there were 765.2 billion audio and video on-demand streams.
The entire number of streams reported in 2018 was 901 billion, which shows 31% growth year-over-year through to 2019.
Speaking with Billboard, David Bakula, head of analytics and insights at Nielsen Music, said: "Surpassing 1 trillion on-demand streams in less than a year underscores how fans are continuing to evolve in the way they listen to music.
"This explosive growth is being driven by today's younger, more connected music fan, with 90% of teens and millennials streaming music. Accessibility to new technology, affordable premium streaming plans and the proliferation of connected devices will only serve to expedite the next trillion on-demand streams."
Amazon music launched a high-definition streaming service in September, making 50 million songs available in CD-quality audio.
US-based streaming services are expected to hit revenues of $8.4 billion this year.
