WHERE DID MUSIC INDUSTRY REVENUE COME FROM IN 2016?
The music industry has had a gloomy outlook for more than a decade. Years ago MP3 players and iTunes all but destroyed the traditional album, and more recently even permanent digital downloads began to see a dip in sales, down as much as 13% in 2013-2014. But, in 2016, things are beginning to look up.
This rise in the music industry’s revenue is actually thanks to the same digital music phenomenon that contributed to the damage in the first place. Digital sales – such as music streaming services and track downloads – now account for 45% of total global music revenue, compared to 39% for physical sales. This uptick in revenue puts the total industry revenue in 2015 at $15 billion, a 3.2% increase – the highest year-to-year growth in almost 20 years, according to a report out by IFPI (International Federation of the Phonographic Industry). All of the above is good news for the industry, but what exactly does this mean for the artists? How can an artist profit from the rapidly evolving ways that fans consume music? Below we’ll explain some of the more significant changes the industry has witnessed to help you understand how to navigate the new music landscape and reap the most benefits.
Read more: careersinmusic.com
STREAMS HIT BIG BENCHMARK
Through the first six months of 2017, Spotify and Apple Music have grown their combined total U.S. streams by 60%. When this week ends, the two leading streaming services will have delivered about 160 billion individual song streams, compared with 100 billion through the same period last year.
That's over 105m album equivalents (SEA), or an increase of 40 million. With total album sales down by 18m YTD and track sales down by 94m (9.4 million TEA), streaming has given the industry a YTD increase of more than 12m SEA.
Facebook now has 2 billion monthly users…
In a post on the official Facebook blog, founder Mark Zuckerberg shared a note celebrating the milestone with a personal thank you to Facebook users.
Facebook has also shared a number of key metrics with users along with the announcement, including 1.13 trillion Likes since its 2009 launch (note that this is actually probably higher, since the official press document contained a note accidentally left in from an editor about rolling back the number because of info shared previously with Businessweek, 140.3 billion friend connections, 219 billion photos uploaded, 17 billion location-tagged posts and 62.6 million songs played some 22 billion times.
Median user age is around 22 for new users who joined in the week leading up to this milestone, and the top five countries supporting that growth in the same week were Brazil, India, Indonesia, Mexico and The U.S. Those numbers and that geographical breakdown are roughly the same as they were when Facebook hit 500 million monthly active users, and generally new users are younger than they were when Facebook crossed the 100 million mark.
Read More: TechCrunch.com
Video of the Week:
Liam Gallagher “Wall of Glass”
Quote of the Week:
I think maybe people see bands and musicians as some sort of superhero unrealistic sport that happens in another dimension where it's not real people and not real emotions. So, I grew up listening to Beatles records on my floor. That's how I learned how to play guitar. If it weren't for them, I wouldn't be a musician. - Dave Grohl