Maven Music /Acvanced Excel Dashboard course/

This chart illustrates the transformation of the music industry in terms of revenue generated from physical and digital formats over time, from 1973 to 2019. The key message of the dashboard is that while digital formats now dominate the music industry, total revenues are significantly lower compared to the industry's peak in the early 2000s.

Key features of the chart:

• Y-axis (Revenue): Measured in millions (M) of dollars, ranging from $0 to $25,000 million.
• X-axis (Time): Spans from 1973 to 2019.
• Physical Revenue (Gray Area):
  • From the 1970s to the 1990s, physical formats like CDs, vinyl, and cassettes drove most of the industry's revenue.
  • Revenue peaked in the early 2000s at $22,381 million before starting to decline.
  • A significant milestone is marked by the iTunes launch (around 2003), which led to a gradual but steep decline in physical format sales.
• Digital Revenue (Orange Area):
  • Digital revenue began rising around the same time iTunes launched, representing the growing shift to digital music.
  • By 2019, digital formats contributed $11,175 million, but the total revenue was still about half of what it was during the peak era of physical sales.

Insights:

• The launch of iTunes in the early 2000s was a turning point for the music industry, transitioning from physical to digital formats.
• Despite the dominance of digital formats, total industry revenues are significantly lower than the peak in the early 2000s when physical media was dominant.

The graph visually contrasts the fall of physical media sales with the rise of digital formats but highlights that digital revenue has not fully compensated for the loss of physical format sales.

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