Also in 2015, sales of physical records equaled just $4.98 billion, whereas digital sales far outstripped that, at $7.94 billion. Indeed, the modest decline in engagement measured by listening hours has not impacted consumers’ willingness to pay for audio streaming. Wall Street has been taking notice of the music industry’s secular growth story. Overall, choice is a good thing. Spotify Monthly Active Users (MAUs): 2017-2020 (Q2). Global Music Recording Industry Revenues: 2001-2019 ($ Billion). The global music recording industry is back in growth territory again. iHeartMedia, the owner of 800+ AM/FM radio stations, saw an even larger impact than Sirius XM, with Q2 2020 sales declining 47% year-on-year. Although the popular music industry leans Left politically, Bianchi underlines how it is remarkably entrepreneurial and — unlike much of the arts world — has been self-sufficient over the years. But talking about the music market nowadays means talking about four very distinct industries: Live music, digital music, physical music, and music publishing. For example, US musical composition mechanical royalties are regulated by the Copyright Royalty Board (CRB), a panel of three judges who determine music royalty rates and terms over a period of time. Universal Music Group was the only label to see revenue increase year-on-year up to June 30, 2020 (+6%), while Sony (-12%) and Warner Music Group (-5%) reported declines. Examples include Universal Music, Sony Music, Warner Music Group, and BMG, to name a few. Furthermore, streaming and digital download margins are roughly 50-60%, compared to physical margins of 40-50%, lower due to manufacturing and distribution costs. Social distancing restrictions have severely impacted the live music market. Along with piracy, declining physical sales is an area of the music industry that been discussed to death, but we would be remiss to not mention it here. The U.S. live music industry is expected to grow to 11.06 billion by 2019, up from 9.06 in 2014. Here are some recent articles from around the internet that draw attention to the current state of the industry: Unsound the Movie “Unsound is a documentary that reveals the dramatic collapse of the music industry and the unintended consequences the internet revolution is … According to a recent survey, almost 88% of credited songwriters and 83% of musicians in the recording industry are men. Posted on August 10, 2012. You would be forgiven for thinking that there was no problem with the music industry, at least in Australia. 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The global music recording industry is back in growth territory again. Many of these changes have led to all sorts of new complications. “The unique nature and the diversification of our sources of income mean music publishers are well protected compared to most businesses.”, Josh Gruss, CEO of Round Hill Music (Source). Ditches Theatrical Release Window Entirely For 2021, June Gao Named GM At Chappell Music China, Jessica Thomas Promoted To A&R Role At Silo:Music, Legendary Talent Agent Dick Alen Dead At 89, Premier Music Group Acquires Music Supervisor Search Party Inc, Roc Nation Rapper Casanova One Of 18 People Indicted On Gang-Related Charges, Madison Square Garden Entertainment Teams Up With Squarespace For Virtual Concert Series, CIMA President Stuart Johnston To Step Down, Allison Elbl Named SVP At Shore Fire Media’s L.A. Office, Spotify Partners With NIVA To Highlight The Importance Of Independent Music Venues To The Live Music Ecosystem, AEG Presents To Bring A New Concert Venue To West London As Part Of The Olympia London Development, SoundCloud Shakeup: Kerry Trainor To Step Down As CEO To Be Replaced By President Michael Weissman, Jeff Nickler And Casey Sparks Reunite As GM And Assistant GM At The Moody Center, RBC Bluefest And The German Embassy Team Up For The Holidays, 38-Year-Old Los Angeles Comedian Joe El Cholo Dies From Complications Of Coronavirus, Universal’s ‘The Croods: A New Era’ Earns $14 Million In Its Theatrical Debut, London Police Charge Man In Murder Of 21 Savage’s Brother, Atlantic Records VP Ryan Brady Killed In Car Wreck, Madrid’s WiZink Center Re-Opens With New Ventilation System, How Apple Is Writing The New Rules On Content And Distribution, How Innovation Can Sink The (Music) Pirate Ship, Argentinian Football Legend Diego Maradona Dead At 60, Bertelsmann To Acquire Simon & Schuster For $2.1bn In All-Cash Deal, The Weeknd Accuses The Recording Academy Of Corruption Following Grammy Snub, INTERVIEW: Corey McGuire of Winston House on Being a Haven For L.A.’s West End Creative Community, Grateful Dead Production Manager Chris Charucki Passes, Live Stream - Instagram / Live-Stream / Virtual Music / Virtual Show, Live Stream - YouTube / Live-Stream / Virtual Show / Virtual Music, The figure represents less than 11% of the 3.2 billion global smartphone, According to the Digital Media Association, the US market had 99 million paid streaming, In May 2020, Goldman Sachs estimated the entire music industry’s.
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