Visualizing 40 Years of Music Industry Sales
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Visualizing 40 Years of Music Industry Sales

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Visualizing 40 Years of Music Industry Sales

40 Years of Music Industry Sales

The record industry has seen a lot of change over the years.

8-tracks took a short-lived run at the dominance of vinyl, cassettes faded away as compact discs took the world by storm, and through it all, the music industry saw its revenue continue to climb. That is, until it was digitally disrupted.

Looking back at four decades of U.S. music industry sales data is a fascinating exercise as it charts not only the rise and fall the record company profits, but seismic shifts in technology and consumer behavior as well.

The Long Fade Out

For people of a certain age group, early memories of acquiring new music are inexorably linked to piracy. Going to the store and purchasing a $20 disc wasn’t even a part of the thought process. Napster, the first widely used P2P service, figuratively skipped the needle off the record and ended years of impressive profitability in the recording industry.

Physical vs. Digital sales

Napster was shut down in 2002, but the genie was already out of the bottle. Piracy’s effect on the industry was immediate and stark. Music industry sales, which had been experiencing impressive year-over-year growth, began a decline that would continue for 15 years.

The Ringtone Era

While acquiring music was as easy opening Limewire on your desktop computer, transferring that new T-Pain track to a flip-phone wasn’t a seamless experience.

This brief gap in technology – before smartphones hit mass adoption – brought us the ringtone era. Distribution was controlled by mobile carriers, so ringtones were a comfortable gateway for the record industry to get a taste for digital-based revenue. In 2008 alone, they injected over a billion dollars of revenue into an industry that was getting used to gloomy forecasts.

Paddling Upstream

Though services like Spotify and Pandora haven’t replaced the money pipeline that CD sales provided, they have reversed the industry’s tailspin. For the first time this millennium, record industry posted an increase in revenue for two consecutive years (and likely a third in 2018).

It took a while for consumers to warm up to paying for a premium music subscription, but today, there’s a solid basis for optimism. Music streaming is now the most common format for music in the United States, and the RIAA reports that streaming now makes up nearly half of the market.

Music Streaming Subscriptions

The End of Physical Format?

Gone are the days when people would line up at the music shop for a hot new release. In fact, CD sales are down 80% in the past decade. Today, physical format sales only account for 17% of the industry’s revenue.

There is, however, one bright spot in physical format segment: vinyl. In 2017, vinyl sales hit 25-year high after making a slow and steady comeback.

Vinyl is written in stone. I think if it’s made it for 120 years now, it’s here forever.

– Jack White

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The World’s Biggest Startups: Top Unicorns of 2021

Here are the world’s biggest startups with a valuation above $10 billion.

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World’s Biggest Startups Top Unicorns of 2021 Shareable

The World’s Biggest Startups: Top Unicorns of 2021

Many entrepreneurs start businesses around the world, but only the most successful new companies become “unicorns”—the biggest startups with a valuation above $1 billion.

Some unicorns are little-known companies making quiet but impactful strides in software, healthcare, automotive, and other fields. Others have already become well-known industry leaders, like aerospace manufacturer SpaceX and game developer and publisher Epic Games.

In total, there are more than 800 unicorn startups globally. That said, this visualization specifically hones in on the world’s decacorns (unicorns with valuations above $10 billion) as of December 2021 according to CB Insights.

Private Startups Valued at Over $10 Billion

The world’s most prominent unicorns constantly see their valuations change as they enter different rounds of funding or maturity.

In December 2021, there were 35 startups with a valuation above $10 billion, spread out across different countries and industries.

CompanyValuationCountryCategory
Bytedance$140BChinaArtificial intelligence
SpaceX$100.3BU.S.Other
Stripe$95BU.S.Fintech
Klarna$45.6BSwedenFintech
Canva$40BAustraliaInternet software & services
Instacart$39BU.S.Supply chain, logistics, & delivery
Databricks$38BU.S.Data management & analytics
Revolut$33BUKFintech
Nubank$30BBrazilFintech
Epic Games$28.7BU.S.Other
Chime$25BU.S.Fintech
FTX$25BChina (Hong Kong)Fintech
BYJU's$21BIndiaEdtech
Xiaohongshu$20BChinaE-commerce & direct-to-consumer
J&T Express$20BIndonesiaSupply chain, logistics, & delivery
Fanatics$18BU.S.E-commerce & direct-to-consumer
Yuanfudao$15.5BChinaEdtech
DJI Innovations$15BChinaHardware
SHEIN$15BChinaE-commerce & direct-to-consumer
Checkout.com$15BUKFintech
goPuff$15BU.S.E-commerce & direct-to-consumer
Plaid Technologies$13.4BU.S.Fintech
Grammarly$13BU.S.Internet software & services
Devoted Health$12.6BU.S.Health
Faire$12.4BU.S.Artificial intelligence
Brex$12.3BU.S.Fintech
SenseTime$12BChinaArtificial intelligence
Bitmain Technologies$12BChinaHardware
Biosplice Therapeutics$12BU.S.Health
JUUL Labs$12BU.S.Consumer & retail
GoodLeap$12BU.S.Internet software & services
ZongMu Technology$11.4BChinaAuto & transportation
Global Switch$11.1BUKHardware
Celonis$11BGermanyData management & analytics
Weilong$10.9BChinaConsumer & retail

Many of the most valuable startups are already giants in their fields. For example, social media company Bytedance is the developer behind video network platform Douyin and its international version, TikTok, and has amassed a valuation of $140 billion.

Financial services and payment software company Stripe jumped from a valuation of $36 billion to $95 billion over the course of the COVID-19 pandemic.

Even less universally prominent names like Swedish fintech Klarna ($45.6 billion) and Australian graphic design platform Canva ($40.0 billion) are well known within their respective fields.

But private valuations don’t last forever. Many eventually go public, like electric vehicle maker and Tesla competitor Rivian, which had a valuation of $27.6 billion before listing on the NASDAQ.

The Biggest Startups by Industries and Countries

Breaking down the world’s biggest startups by industry highlights that tech is still king in most investing circles.

More than 77% of unicorns valued above $10 billion are categorized directly in tech-related fields, primarily in financial and commerce software.

Startups Valued Above $10B By IndustryNumber
Fintech9
E-commerce & direct-to-consumer4
Artificial intelligence3
Hardware3
Internet software & services3
Consumer & retail2
Data management & analytics2
Edtech2
Health2
Other2
Supply chain, logistics, & delivery2
Auto & transportation1

And many of the unicorns categorized in non-tech fields are still technology companies at their core. In fact, Indonesia’s logistics and package delivery company J&T Express is one of the few unicorns not directly in tech, though it still uses automated sorting in its warehouses.

It was one of the few startups to come from somewhere other than the U.S. or China, which together accounted for over 70% of the 35 biggest startups. The UK (3) was the next most-frequently listed headquarters, while Australia, Brazil, Germany, India and Sweden each had one of these unicorns on the list.

With constantly fluctuating valuations and technological breakthroughs always around the corner, the next $10 billion unicorn could come from almost anywhere.

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Ranked: The World’s Most Popular Social Networks, and Who Owns Them

When it comes to social networks, Meta is the dominant player, with a combined total of 7.5 billion MAUs across its four platforms.

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The World’s Most Popular Social Networks, and Who Owns Them

Currently, there are over 4.5 billion people around the world who use some form of social media—about 57% of the global population.

Yet, while social media’s audience is widespread and diverse, just a handful of companies control a majority of the world’s most popular social media platforms. Meta, the tech giant formerly known as Facebook, owns four of the five most widely used platforms.

This graphic highlights the biggest social networks across the globe, measured by their monthly active users (MAUs).

Note: We’ll be using terms like “social network” and “social platform” interchangeably to refer to various messaging, video, and image-sharing platforms that have social attributes built in.

Top Social Platforms by Monthly Active Users

To measure each platform’s MAUs, we dug into various sources, including the most recent company SEC filings, and quarterly earnings reports.

A majority of Meta’s user base comes from its most popular platform, Facebook—the social media giant currently has around 2.9 billion MAUs worldwide.

RankPlatform nameParent companyCountryMonthly active users, in millions
#1FacebookMeta🇺🇸 U.S.2,910
#2YouTubeAlphabet🇺🇸 U.S.2,291
#3WhatsAppMeta🇺🇸 U.S.2,000
#4MessengerMeta🇺🇸 U.S.1,300
#5InstagramMeta🇺🇸 U.S.1,287
#6WeChatTencent🇨🇳 China1,225
#7KuaishouKuaishou🇨🇳 China1,000
#8TikTokBytedance🇨🇳 China1,000
#9TelegramTelegram🇦🇪 UAE600
#10QzoneTencent🇨🇳 China600
#11QQTencent🇨🇳 China591
#12WeiboSina🇨🇳 China566
#13DouyinBytedance🇨🇳 China550
#14SnapchatSnap🇺🇸 U.S.538
#15TwitterTwitter🇺🇸 U.S.463
#16PinterestPinterest🇺🇸 U.S.454
#17RedditReddit🇺🇸 U.S.430
#18LinkedInMicrosoft🇺🇸 U.S.310
#19QuoraQuora🇺🇸 U.S.300
#20SkypeMicrosoft🇺🇸 U.S.300
#21TiebaBaidu🇨🇳 China300
#22ViberRakuten🇯🇵 Japan250
#23TeamsMicrosoft🇺🇸 U.S.250
#24imoPageBites🇺🇸 U.S.212
#25LineNaver🇰🇷 South Korea169
#26PicsartPicsart🇺🇸 U.S.150
#27LikeeBigo Live🇸🇬 Singapore150
#28DiscordDiscord🇺🇸 U.S.140

Where in the world are Facebook users located? The platform’s biggest user base comes from India, with an audience size of almost 350 million. Its second-largest user base is the United States, with 193.9 million users, while Indonesia comes in third with 142.5 million.

But Facebook isn’t the only social giant in Meta’s network of platforms. WhatsApp has approximately 2 billion MAUs, making it Meta’s second-largest platform, and the third-largest social network overall.

Like Facebook, a significant number of WhatsApp users are located in India, with roughly 390 million users. Brazil has a large portion of WhatsApp users as well, with an audience size of 108 million.

The Billion Users Club

Meta currently dominates the social network landscape, with a combined total of 7.5 billion MAUs across all four of its platforms. However, a few other companies also hit the one billion MAU mark across all their platforms on the list:

RankParent company# of companies on the listCountryCombined MUAs
1Meta4🇺🇸 U.S.7.5 billion
2Tencent3🇨🇳 China2.4 billion
3Alphabet1🇺🇸 U.S.2.3 billion
4Bytedance2🇨🇳 China1.6 billion
5Kuaishou1🇨🇳 China1 billion

After Meta, Tencent has the second-highest reach thanks to its three platforms—WeChat, Qzone, and QQ. Of the three, WeChat is currently the most popular. On average, WeChat users send about 45 billion messages a day.

Third on the list is Alphabet, thanks to its one platform, YouTube. Founded in 2005, this video streaming platform currently has over 50 million content creators, who share approximately 500 hours of video content every minute.

Close behind Alphabet is Bytedance, with a combined 1.6 billion MAUs across its two platforms—Douyin and its international counterpart TikTok. While the apps share a lot of similarities, they function as completely separate entities, with different registration, content policies, and regulations.

Global Social Networks? Not Always

While social media networks often transcend country borders, it’s worth noting that the online realm does not completely escape the constraints and regulations of our physical world.

Since 2009, Facebook has been banned in China for not complying with censorship rules. Facebook was also blocked in Iran and Syria around the same time and has been blocked sporadically since.

In 2020, the Trump administration tried to enact a similar ban against TikTok, but the order was blocked by a federal judge and eventually revoked by the Biden administration a year later.

Despite various bans and roadblocks, it’s clear that social media platforms have seeped into the lives (and onto the screens) of users across the globe. And as internet access worldwide continues to grow, so too will the number of social media users.

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