From Physical to Digital: A Historical Analysis of Music Consumption and Revenue Generation

Data

The dataset contains details on US music revenues from 1973 to 2019

Process:

• Select an effective chart type
• Create chart
• Format chart
• Add context to tell a story

A stacked area chart was selected to convey this message because I want to communicate composition using time series data.

Findings:

Peak Revenues:

• The maximum revenue from Physical formats occurred in 1999, amounting to about 22.3 billion.
• The maximum revenue from Digital formats was in 2019, reaching approximately 9.9 billion.

Trends Over the Last 5 Years (2015-2019):

By 2019, physical format revenue had decreased to 1.2 billion, while digital format revenue significantly increased to 9.9 billion.

Key Takeaway:

Digital Formats dominate the music industry now but revenues are half of what they were in their peak.