2017 was a stellar year for the recorded music business. Global recorded music revenues reached $17.4 billion in 2017 in trade values, up from $16 billion in 2016, an annual growth rate of 8.5%. That $1.4 billion of growth puts the global total just below 2008 levels ($17.7 billion) meaning that the decline wrought through much of the last 10 years has been expunged. The recorded music business is locked firmly in growth mode, following nearly $1 billion growth in 2016.
The music industry is streaming forward. In 2017, we saw an astounding 63 percent increase in subscription streaming revenue.1 Both subscription and advertising-supported music services saw significant increases in revenue earned and royalties generated. Thanks to streaming, the industry is poised for sustained growth in the future. DiMA members
Research from The Smart Audio Report Fall/Winter 2017 revealed how voice activation in the home is fueling adoption of smart technology broadly – including smart home applications – and affecting how often consumers engage with other platforms throughout the day, including television.
On average, Americans spend just over 32 hours a week listening to music in 2017, up 5.5 hours over last year. How is this possible? Technology. At home, at work and traveling in between, people are consuming more music than ever before, from more devices.
Technology continues to drive changes for how listeners are crafting and shaping their own music experience. Listening to music is more of an individual experience than ever before through playlist creation, choice of listening device and the management of what is shared across social media channels.
The Recording Industry Association of America (RIAA) recently released recorded music sales revenue figures for 2016 and some of the historical music sales data from the RIAA are displayed in the two charts above (press release here). Here are some observations.
On May 18, the Department of Justice (“DOJ”) is expected to file its opening brief in an appeal of a district court decision rejecting its interpretation of a consent decree entered into in 1941 (and amended since). The outcome of this appeal could have major and long-lasting repercussions for Internet radio and music streaming.
Welcome to BuzzAngle Music’s 2017 report on U.S. music consumption. 2017 saw a significant increase in overall consumption, an outstanding 12.8% over 2016 that marks the third year in a row with increasing growth.
Beyoncé made history with her album Lemonade, which was streamed a record 115 million times in its first week. Just one week later, Drake broke that record when his album Views was streamed 245 million times. The age of streaming music has arrived in full force, displacing both physical sales (e.g., CDs) and downloaded songs (e.g., iTunes).
In this paper, we study how the adoption of music streaming affects listening behavior. Using a unique panel data set of individual consumers’ listening histories across many digital music platforms, adoption of streaming leads to very large increases in quantity and diversity of consumption in the first months after adoption.