As we have already said many times, despite the COVID-19 pandemic devastated the music entertainment industry with the closure of clubs and the cancellation of festivals and concerts, the music industry never stopped.
Indeed, many people are no longer passing their time stuck in the traffic by listening to the radios or their favorite playlists along the way. Still, many others have rediscovered the time and the right way to listen to a track, a DJ set, a radio show, or a simple playlist… and even with more attention! This is a fact.
According to the 2020 report of the Recording Industry Association of America (RIAA), this assumption finds confirm by the significant increase in the record industry’s profits. The RIAA explains that last year profits were 9% higher than other years, collecting an increase of over $12 billion and a trend that has been growing for 5 years.
These useful data mostly derive from new streaming platforms and agreements established among SNS, labels, and distributors. Still, they are helpful, as we have said, to signal another positive year for the world of music, though. It is always such a thriving market.
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