Streaming entertainment is huge right now. Netflix has revolutionised the way we watch films and TV series’, just like Spotify has revolutionised the way we listen to music. And it is BIG business.
The Wall Street Journal claim that following a new $400 million deal, Spotify is now valued at $8.4 BILLION. Their closest streaming rival is Pandora, which is worth $3.5 billion, so the monopoly is very much theirs
The entire recorded music industry in the U.S. was valued at just below $7 billion for 2014, so now streaming is making a lot more than CD sales – but we already knew that. RIP CD.