Given all the noise the recording industry makes — and the idiotic amount of attention it gets from government ministers — you’d be forgiven for thinking that it was one of the most important industries on the planet. In fact, as this chart shows, it’s minuscle compared to the industries that drive our economies. It’s about the same size as the watch industry. That doesn’t mean that it isn’t important to those who work in it, or that its future doesn’t matter. But let’s have a sense of proportion about it.
HT to Benedict Evans for highlighting the chart.