1 Music Stock to Buy and Hold for the Long Term
SPOTSpotify(SPOT) The Motley Fool·2024-04-16 21:44

Things look to be turning around for this household-name company. Last year was a big one for the music industry. The global recorded music market grew 10.2% in 2023 to reach $28.6 billion, according to IFPI, which represents the recording industry. That's up from the 9% boost the industry experienced the previous year. Unsurprisingly in this digital age, the bulk of the growth came from streaming. Revenue from streaming subscriptions increased 11.2% and accounted for roughly half of total music revenue. Th ...