market in 2010 to a whopping 83% by the end of 2020 - and recorded-music revenues saw their fifth consecutive year of growth, topping $12.2 billion, per the RIAA. How completely has streaming transformed the music world? The platform rose from 7% of the U.S. launch in July 2011 opened the floodgates, and Apple Music’s streaming service debuted four years later. For a $9.99 monthly fee (or free to those who don’t mind sitting through dozens of groove-busting advertisements), the site is an open archive, easily searchable and replete with more music than anyone could play in a lifetime.
Founded in Stockholm on April 23, 2006, and seeking a solution to the industry’s piracy problem, the on-demand audio-streaming service was built on the understanding that consumers who aren’t inclined to buy a specific album or song might be willing to pay for ease of access to a large library of music. But streaming, led by Spotify, the brainchild of Swedish entrepreneurs Daniel Ek and Martin Lorentzon, changed all that.
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