In college about 5 years ago, I heard a presentation from some recording industry people who worked at a studio. They saw Spotify as the reason their industry would still exist in five years. I think at the time total recording revenues were still declining, but the streaming growth was really picking up. Spotify has brilliantly convinced many people to spend $120 per year on music. The average CD-buyer spent much le…
Citation needed
My understanding is that total spending on recorded music is way down from heights in the 90's. I could be wrong though.