Digital Music Market Overview.

The IFPI Global Music Report shows that more people now enjoy music in more ways than ever before. The music industry is going through its third consecutive year of growth since 1997, reaching a height of $17.3 billion. At the heart of this report are incredible artists supported by record companies that help share their music with the world.

Meanwhile, streaming is making music available to hundreds of millions of people, with artists connecting more directly and more quickly with their audiences. The revenues from streaming grew by 41.1% this year. 2017 year showed the following results: the digital part of the industry grew 19.1% to $9.4 billion. In total, part of digital revenues is 54% of the global recorded music market.

The music business is expected to increase to $41 billion by 2030. To achieve this, music must be properly protected in an increasingly digital marketplace. With that in mind, there can be no better time for Younk to get on its mission of changing the very core of the industry.

Younk is poised to change the game and set new rules in the music industry. Supported by a transparent and immutable distributed platform, artists will be able to share content directly with their audiences.

Younk will register master-rights ownership, combined with a system of smart contracts to manage transactions between musicians, hit-hunting listeners, and platform experts.

Free from intermediaries, entry barriers and limitations set by big corporations, Younk will enable artists to break through and gain access to audiences, financial support and fair payments for their work. At the same time the platform will allow to make business opportunities accessible for hit-hunting listeners and find prospective stars to support from the beginning.