|Policy
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
U.S. digital revenue grew 15 percent in 2017 to $6.5 billion from $5.65 billion, driven largely by a 53 percent increase in streaming to $3.4 billion from 2016’s total of $2.2 billion.
On average, between 60% and 73% of all data within an organization doesn’t get used for analytics, according to a 2016 survey by Forrester. The same report also stated that “the potential of most data lies dormant.”
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.
Playlist professionals have replaced radio DJs as the new power brokers, as streaming services’ ready-made song lists become hitmakers.
Starting today, you can control your Sonos speakers through Pandora’s mobile app. Users will be able to select rooms, group and ungroup speakers, and control the volume all from the Pandora app.
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.
Pandora just entered the on-demand music subscription business, but the Oakland, Calif.-based company has been streaming songs for almost as long as Apple’s iTunes Store has been selling them.
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.
In what’s now become a familiar story, the U.S. recorded music industry has seen revenue growth accelerate again in the first half of 2017, up 17 percent over the first half of last year to $4.0 billion, according to the RIAA’s 2017 mid-year report.