Music is worth how much?

V8

tl;dr - In 2021, Paid streaming subscriptions are 84% of revenue, vinyls are outselling CD's 3:1 though, physical media is only 10% of the market. Independent artists/releases have grown to 5% of the market in 2020.

From a worldwide perspective in 2020: https://midiaresearch.com/blog/recorded-music-revenues-hit-231-billion-in-2020-with-artists-direct-the-winners-again

Global recorded music revenues grew 7% in 2020 to reach $23.1 billion in record label trade revenue terms.
Streaming revenues reached $14.2 billion, up 19.6% from 2019
In 2019, artists direct were the stand-out success story, massively outperforming the market. History repeated itself in 2020 with artists direct growing by a staggering 34.1% to break the billion-dollar market for the first time, ending the year on $1.2 billion and in the process increasing market share by more than a whole point, up to 5.1% in 2020

From a US perspective, mid 2021: https://www.techspot.com/news/91228-music-industry-revenues-increased-27-percent-first-half.html

The Recording Industry Association of America (RIAA) in its mid-year 2021 report found that recorded music revenues in the US grew 27 percent in the first half of this year compared to the same period a year ago, from $5.6 billion to $7.1 billion (at retail value).
Streaming music continues to be the biggest cash cow for the music industry, accounting for 84 percent of all US music industry revenues in the first half of 2021.

RodneyVikens

Although how much does the actual artist get? Specially during the lockdowns where there was no live shows?

But the industry has changes so much, and personally , thanks to YouTube/Google radio, I listen to 90% independent artist or artist I have never heard of in my life or anyone else talking about.

V8

RodneyVikens Although how much does the actual artist get?

The roughest guesstimate is around $3-5 per 1000 plays. But this varies hugely between platforms and also by artist (they may negotiate a special deal).

The graphic below details is what each platform distributes to artists per stream.

I did some napkin maths (potentially wildly inaccurate), from the articles I read - In the US during 2021, there were 840 BIllion songs streamed generating around $5 Billion revenue - works out to 0.059c per stream?

Not sure about that calculation, means the artists are getting around 5-10% of the $$$ generated by the stream. Although this does kinda reflect some of the rumbling I've read from artists.