The UK is a new big winner in the race to become the next global mega-empire.
The UK has become the biggest market for digital music streaming, according to the latest figures from Nielsen SoundScan, with digital downloads and streaming making up over 50 per cent of all music sales.
In the UK, music streaming has tripled over the past five years, while digital downloads have more than doubled.
The top five countries with the biggest digital downloads in the UK are: Australia, Brazil, Germany, Japan and the US.
Germany has been the leader of digital music sales for years now, but now, thanks to the rise of the likes of Spotify and Apple Music, it is also the country with the most subscribers.
The UK’s lead has now widened to a record high of 11 million subscribers.
And the number of digital downloads has increased by more than 40 per cent in the last five years.
In other words, digital downloads are on the rise faster than the rest of the world.
The biggest market in the world is now the UK.
While digital downloads can only account for a small part of the overall music market, they do make up a significant share of overall revenues.
For example, Spotify has an estimated £1.6 billion ($2.3 billion) in revenue from its digital-only subscription model, according the report from Nielsen.
Spotify’s estimated market share in the US is just under 5 per cent, while in the EU it has more than 20 per cent.
And there are a few countries that are just ahead of the UK in terms of total digital revenue.
For instance, Brazil has the second largest digital market in Europe, with over $20 billion in digital revenue, and is ranked first in the entire world for total digital music downloads.
In terms of sales, the US has been leading the way in terms the size of its digital downloads.
In the UK and Germany, however, sales have been slower to catch up.
In Brazil, for instance, downloads are up to 11 per cent higher than in the rest in 2015, with the average download size up by a quarter in Brazil.
The same is true in the Netherlands, where the average size of downloads has doubled over the same period.
The US, meanwhile, has been catching up in terms revenue per subscriber, with average subscriber revenues of $0.64 per month in 2015 compared to $0,44 in Germany.
It is the only country that is able to boast a market share above 70 per cent as compared to the UK’s 35 per cent market share.
As a result, Spotify is able sell a bigger share of its downloads in Brazil, and in Germany, and the UK is in a position to overtake it in terms revenues per subscriber.
This growth in the music industry is the result of an increased reliance on digital services.
While Spotify and Pandora have seen strong growth in recent years, it has come at a price.
Spotify, for example, has seen a big jump in fees, with an average of $1,000 per user.
Pandora, meanwhile has seen revenue per user fall from $2,000 to $1.30.
The rise in fees has been accompanied by a drop in streaming numbers, with only 9.5 million new listeners in 2015.
This is all good news for the music business, but is it sustainable?
According to Nielsen Soundscan, digital services such as Spotify and YouTube are providing a huge opportunity for music publishers, but also a significant cost for their listeners.
According to the company, the majority of subscribers pay for these services via mobile and streaming, meaning they are either losing money on the music or are paying for less in terms for the content.
In other words: if Spotify is to survive in the long-term, it needs to make the music itself more appealing to its users.
And it needs a plan to do that.