The billion-dollar global music industry has undergone a number of changes as a result of the advent of streaming. Up until 2013, revenues from recorded music declined as patrons began to transition to streaming methods. In fact, many artists and music professionals were concerned about the potential negative impacts of streaming on their revenue. However, that discussion has waned, as companies have found ways to monetize streaming.
The 2015 study conducted on behalf of Caribbean Export by Visual & Performing Arts Jamaica (VPAJ) and KEA European Affairs (KEA), highlighted the work of McCandless, whose research revealed that artistes signed with labels earned $0.00128 every time their music was streamed. In fact, the study concluded that streaming methods undervalued the work of artistes. However, festival and music driven events experienced strong growth. The report cited an EY study which identified that concerts and music festivals accounted for just over 1/3 of global performing arts revenue. The study also identified that for Caribbean artists, streaming provided an opportunity to become better known and recognised.