|Policy
You may have noticed that big things are happening at Pandora. Earlier today, we announced that we’ve entered into an agreement to be acquired by SiriusXM, in an all-stock transaction, valued at approximately $3.5 billion. Here’s what this means for our listeners, and why we’re excited.
Pandora is partnering with Snapchat to stream music on the app via its new developer tool, Snap Kit.
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…
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
After a 20-year decline, we are seeing growth—in fact, double-digit growth. Music is being created and consumed at a higher rate than ever before.
Streaming music consumption continues to ramp up, not slow down. Mid-way through the year, the RIAA (the Recording Industry Association of America) released statistics on the US music industry, and during the first half of 2017, revenues from streaming services accounted for 62 percent of the total market.
Consumers are flocking to music, with streaming becoming the preferred channel of choice. The latest study from Nielsen Music shows 90 percent of the population listens to music and that, on average, they do so 32.1 hours a week.
Pandora is stepping up its outreach to country music fans with a new “digital country music festival” campaign that will feature concerts, station takeovers and other exclusive content, all as part of an effort to grow what is already the service’s second biggest genre audience and, of course, to attract more paid subscribers.
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.
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.