What would we do without digital-music services such as iTunes and Spotify? We'd all have excruciating commutes to work, that's for sure.
The industry has experienced a meteoric rise over the past decade. Global digital-music revenue reached $400 million in 2004, according to a new report from IFPI, a nonprofit organization that represents the recording industry worldwide. In 2013, revenue increased to $5.9 billion, most of which came from downloads, and was bolstered by subscriptions and ad-supported streams.
The following chart, created by Statista, breaks down digital-music revenue over the past 10 years.
Credit: Statista