Musicians receive 12% of income generated by music

Citigroup has produced a report on revenue generated by the music industry. It looks bad for people who actually make music. In 2017, the music industry generated $43 Billion in the United States, matching a previous peak from 2006. However, musicians received a mere 12% of that income. The rest went to shareholders, corporations that distribute music, and middlemen.But, it's not all bleak news. In 2000, artists received a mere 7% of income generated by the music industry.

Physical sales dropped significantly between 2009 and now. However, concert ticket spending rose dramatically in that same time period. Though, its important to mention that the cost of concert tickets also rose dramatically during that time period, when averaged between all genres. Perhaps somewhat surprisingly, according to the report, US consumers are spending more on music than ever before. US consumers are spending more on subscription services and less on physical products.

On a related note, the report made it a point to mention: "The music industry is in the midst of two profound changes. First, consumers are increasingly opting to rent rather than buy music. Second, the demise of physical music has prompted artists to tour more often, driving significant growth in concerts and festivals."