US-Based Streaming Music Revenues
According to the Consumer Technology Association’s U.S. Consumer Technology Sales and Forecasts, the forecast for 2019 remains green-n-sunny, with continued growth ahead.
This continued uptick in music service subscriptions comes alongside a huge increase in the number of smart speakers and innovative mobile devices, including smartwatches and wireless earbuds.
Per the same report, wireless earbuds will be up almost 50 percent in both revenue and sales volume this year, while smartwatch revenue will see a 20 percent bump from 2018 levels.
More encouraging yet is that the broader streaming category is also surging; this point illustrates the nationwide (and perhaps the worldwide) viability of the subscription business model.
Also, gaming streaming, memberships, and micro-transactions will coordinate to produce almost $40 billion in 2019, a boost of 11 percent.
That said, CTA’s specific interest in streaming is less direct, given that consumer electronics devices are typically adaptive to the specific format demands of consumers.
In short, consumers are quickly gravitating towards subscription services — especially music streaming services.