Streaming now accounts for 80% of music business revenue, according to Mitch Glazier, Chairman, and CEO of RIAA.

Streaming now accounts for 80% of music business revenue, according to Mitch Glazier, Chairman, and CEO of RIAA.

The headline out of RIAA’s latest data on the music ecosystem is clear (and to anyone who’s ever had to separate teenagers and their earbuds, no great surprise) — the streaming economy continues to accelerate, strengthen, and mature. Everywhere you look, our industry’s embrace of new technologies approaches, and platforms is paying off for artists, fans, and everyone who loves great music.

Music revenues grew 18%, to $5.4 billion in the first half of 2019. Paid streaming services added more than 1 million new subscriptions a month, taking us past 60 million total paid subscriptions. Thanks to that breakneck growth, plus continued modest drops in digital downloads and new physical sales, streaming now generates 80% of music business revenues and has fundamentally reshaped how fans find, share, and listen to the songs and artists they love.

Read the whole story: https://medium.com/@RIAA/a-tech-forward-music-business-fuels-streaming-boom-572fbbc4bc71

The Record Industry Gave Everything Away to Spotify. Could It Change Its Mind? | RollingStone.com

The Record Industry Gave Everything Away to Spotify. Could It Change Its Mind? | RollingStone.com

What would happen if the major music services operated more like Netflix – offering not every artist you can think of, but bidding among themselves for the biggest ones?  

More Than Three-Fourths of US Internet Users Are Now Streaming Music, Says Study | Billboard.com

As for which streaming services are getting use, YouTube leads with a 30% share of weekly music listening, according to the study, followed by Spotify at 24% and Pandora at 17%. Apple and Amazon’s music services each account for 6%. Even though those both have seen strong subscriber growth, MusicWatch found Spotify listeners spend much more time on the platform, driving its higher share of listenership.

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Courtesy of MusicWatch

More than three-fourths of the American internet-using population over the age of 13 is now streaming music. That’s according to MusicWatch’s audiocensus Q2 2019 report on U.S. music consumption and listening habits, shared exclusively with Billboard in advance of its publication.

MusicWatch calculated 183 million Americans over the age of 13, or 77% of the U.S. internet-using population, are now streaming. That marks a 14% increase since the same time last year. Of those users, the report estimates 125 million are using paid music streaming subscription services. And while only 68 million of those subscription streamers are personally paying, that represents a 21% increase from 56 million just six months prior.

Read the whole article at Billboard.com

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