The Economic and Cultural Impact of Hip-Hop

Happy 50th Birthday, Hip-Hop. You Transformed Culture 

Music streaming sales are dominated by top R&B and hip-hop artists, but the real value lies in the cultural significance

In 1973, hip-hop was born. Fifty years ago at a party in the Bronx, roots were planted that, unbeknownst to the world at the time, would sprout a cultural movement that would change the trajectory of the music industry forever.

As it stands today, through streaming platforms, music revenue is projected to double to about $131 billion by 2030. Currently, music streaming sales are dominated by top R&B and hip-hop artists. From that number alone, the economic impact is palpable, but the true value of the genre lies in its cultural significance.

The soundtrack of transformation

Hip-hop is a genre that, in the past, was portrayed as rebellious or violent.

Headshot of Bonin Bough

Bonin Bough

Bonin Bough is co-founder and chief strategy officer at Group Black.