The rise of streaming services has had a significant impact on the music industry. On one hand, streaming has opened up new revenue streams for artists and labels, providing a way to monetize their music in a digital age. According to a report by the International Federation of the Phonographic Industry (IFPI), streaming accounted for 80% of the music industry's total revenue growth in 2020.
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On the other hand, streaming has also raised concerns about royalty payments, artist compensation, and the value of music in a digital age. Many artists have spoken out about the need for fair compensation for their work, and some have even called for changes to the way streaming services pay royalties.
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