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The Covid-19 pandemic boosted online music consumption like never before. Universal Music Group has recently reported that their streaming and subscription revenues grew by 15% to $4B in 2020, meaning they generated around $11M each day from streaming alone.
The market seems to be skyrocketing, streaming is praised as more democratic for all artists, it all sounds great in theory. But the question remains: can an artist (or label) rely solely on streaming for income?
I don’t think so.
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