Streaming helps 2020 record sales hit high note
A year characterized by lockdowns had music lovers turning the volume up.
Streaming music services led a rise in global recorded music sales to nearly $22 billion.....that's a year-over-year jump of more than 7 percent, industry trade group IFPI said in its Global Music Report released Tuesday.
2020's gain marked the sixth straight year of sales growth.
Last year's boost in sales benefitted from the millions of music lovers who bought music to pass the time as they grappled with stay-at-home orders in most parts of the world.
2020's top sellers were:
K-pop stars BTS...
perennial chart-topper Taylor Swift...
rap sensation Drake...
teen phenom Billie Eilish...
And The Weeknd.
Consumers turned to streaming music on services like Spotify with live performances out of the question due to the health crisis.
Total revenues from streaming services - both paid subscription and advertising-supported - made up nearly two-thirds of all music sales last year.
That was enough to more than make up for the continued dwindling of physical music sales - think CDs and records - which dropped nearly 5 percent.
