Are We Witnessing the Death of the Streaming Megahit?
For decades, the record industry has turned its attention and investment to one thing above any other: the hit record. Yet new figures out of the US this week suggest that hits – as in blockbuster, industry-dominant megahits – are increasingly becoming a lesser-spotted beast. Despite millions more people playing music on streaming services each year, the industry’s biggest streaming hit at the mid-year point of 2021 is significantly smaller than its biggest streaming hit at the mid-year point of 2020, of 2019, and of 2018.
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