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Publication

Fans’ Embrace of Streaming Sustained Music During a Tumultuous Year. Why, and What Does it Mean for 2021

"The full-fledged consumer embrace of streaming helped avert a total collapse of the music business," writes DiMA President & CEO Garrett Levine in Music Business Worldwide

January 05, 2021

The music business in 2020 experienced an unprecedented cacophony of events. Live music businesses tragically shuttered. A virtual performance market emerging. Yet despite it all, music lived on through streaming as it continued to be embraced by nearly every American with an Internet connection, even in the face of a global health crisis and massive economic disruption.

This is not the only 2020 storyline in music, but it is certainly one of the more hopeful: the full-fledged consumer embrace of streaming helped avert a total collapse of the music business. As one analyst put it: “streaming remains resilient,” with “music industry revenues [holding up] relatively well compared to other industries during the COVID-19 pandemic. The growth of digital streaming has allowed consumers to access and enjoy music regardless of social distancing restrictions.” …

The 2020 music streaming service is your record store, jukebox, speaker, FM radio station, mp3 collection, MTV, set of liner notes and smart music friend all wrapped together in one captivating experience. And critically, streaming services allow you to access all of that without leaving your home—a vitally important characteristic over the past year…

More than ever, I have grown to appreciate just how connected successes and failures are. Music’s resilience is impressive but not infallible.

We should be wary of rhetoric that essentially suggests burning the village in order to save it, or of proposals that ignore how the fundamental complexity of the business — including the balance of payouts to different rightsholders — contributes to the current economics for creators. Any honest reckoning of our business must examine what happens to the 69 cents of every dollar that digital music services pay to record companies, music publishers, and PROs.

For all of us who are part of the community supporting this artform that helped sustain us through this challenging year, our posture should be one of finding solutions and forging partnerships. That is ultimately the approach that resuscitated the music business from a decade-long decline, produced the durable foundation that helped sustain our community through this tumultuous time, and is one reason for continued optimism in the new year.

Read the full Music Business Worldwide op-ed from DiMA President & CEO Garrett Levine here

Digital Streaming, Innovation, Live Music, Music, Music Industry, Royalties

SiriusXM + Pandora Join NIVA, Music Industry Leaders in Urging Congress to Support The RESTART Act

SiriusXM + Pandora joined the National Independent Venue Association and US music industry leaders in a letter urging Congress to support the RESTART Act, which would tailor PPP to work for shuttered businesses that have no revenue, high overhead and no clear timeline for reopening in the wake of the Covid-19 pandemic. Independent music venues are still effectively shuttered and with zero revenue and the overwhelming overhead of rent, mortgage, utilities, taxes, and insurance, 90% of independent venues report that if the shutdown lasts six months and there’s no federal assistance, they will never reopen again.

Read the Full Letter Here

 

Congress, Covid-19, Live Music, Music Industry, Pandora, SiriusXM
Press Release

Leading Digital and Tech Platforms Join Ad Council, White House, HHS and CDC to Address COVID-19 Crisis

Digital and Technology Platforms Create Pro Bono Content, Donate Ad Space to Help Share Critical and Urgent COVID-19 Messaging

Ad Council
Ad Council

April 02, 2020

In response to the COVID-19 pandemic, the Ad Council, White House, U.S. Department of Health and Human Services (HHS) and Centers for Disease Control and Prevention (CDC) announced today that they are partnering with leading digital and technology platforms, including Amazon, Apple, Facebook, Google, SiriusXM and Pandora, Pinterest, Snapchat, TikTok, Twitter and Verizon Media, among others, to extend the reach and impact of critical COVID-19 response messaging. From custom filters to emojis to influencer content, digital and technology partners are leveraging their tools to connect their audiences with life-saving messages to help slow the spread of the virus.

“We have seen the media industry come together time and time again to address the most critical issues facing our country, and the COVID-19 pandemic is no exception,” said Lisa Sherman, president & CEO of the Ad Council. “These digital and technology platforms have generously donated their talents and reach to empower millions of Americans to stay safe, informed and connected.”

Health, Music Industry, Pandora, SiriusXM
Press Release

MAJOR MUSIC STREAMING SERVICES AND TECH COMPANIES JOIN MUSICARES® AND THE RECORDING ACADEMY® IN SUPPORT OF COVID-19 RELIEF FUND

SIRIUSXM AND PANDORA, SPOTIFY, TIDAL, AND YOUTUBE MUSIC CONTRIBUTE GENEROUS DONATIONS TO THE MUSICARES® COVID-19 RELIEF FUND

SiriusXM
SiriusXM

April 02, 2020

Leading music streaming and tech companies Amazon Music, Facebook, SiriusXM and Pandora, Spotify, TIDAL, and YouTube Music have announced today they are contributing to COVID-19 Relief Fund affiliated charitable foundation MusiCares®, to support music industry workers in need.

The COVID-19 Relief Fund was established to provide monetary support to the thousands of music creators and industry professionals who have been most affected by the Coronavirus pandemic due to the unprecedented cancellation of music events and work opportunities. Since the fund’s establishment last week, MusiCares and the Recording Academy have raised millions more than the initial $2 million to start the COVID19 Relief Fund, thanks to its esteemed partners, but more is needed. With this fund, music industry professionals including artists, production crews, technicians, and anyone impacted by the loss of income due to live music event cancelations, can apply for basic living assistance.

Artists, Health, Music Industry, Pandora, SiriusXM
Publication

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

Billboard
Colin Stutz

September 25, 2019

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.

Digital Streaming, Internet, Music, Music Industry
Publication

How a new law aimed at streaming music brought the industry and Congress together

CBS News
Common Ground

August 26, 2019

In Washington, the Music Modernization Act aims to help by streamlining music licensing and closing a loophole in copyright law so it better fits the digital era. President Trump signed the landmark bill in October 2018, after it passed unanimously in both the House and the Senate.

Congress, Copyright, Music Industry, Music Modernization Act
Publication

SiriusXM Adds 174,000 Satellite Radio, 64,000 Pandora Subs in Second Quarter

Hollywood Reporter
Georg Szalai

July 30, 2019

Audio entertainment giant SiriusXM, the home of Howard Stern, on Tuesday reported continued growth in its satellite radio and Pandora subscribers.

Digital Radio, Music Industry, Pandora, SiriusXM
Publication

Goldman Sachs says 1.15bn people will pay for music streaming by 2030, as it ups industry forecast

June 05, 2019

The investment bank’s ‘Music In The Air’ dossier, from August 2017, forecast a booming future for record labels, and set in motion a series of escalating valuations for Universal Music Group which have since hit $50bn (in the case of JP Morgan). In that report, Goldman forecast that trade revenues from paid streaming would reach $28bn by the year 2030, with the overall recorded music industry pulling in a whopping $41bn in the same 12 months.

Music Industry, On-Demand Streaming, Streaming Subscriptions, Technology
Publication

Why Atlanta’s A Key Part of Tech Company Pandora’s Expansion

90.1 FM WABE
Candace Wheeler

May 02, 2019

Oakland-based music streaming platform Pandora has had an office in Atlanta’s Atlantic Station for the past 10 years, and, recently, the company announced plans to expand to another building in Midtown.

Atlanta, Music Industry, Pandora, Technology
Publication

Congress Announces Recording Arts and Sciences Caucus Members

Billboard
Colin Stutz

March 14, 2019

Members for the new Congress’ Recording Arts and Sciences Caucus were announced on Thursday (March 14), including chairs House Majority Leader Steny Hoyer (D-Md.) and House Minority Leader Kevin McCarthy (R-Calif.). The bi-partisan caucus was established in 2005 and works with members of the music industry to understand sector economic and cultural impact on legislation.

Congress, Music, Music Industry, Music Modernization Act
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