Total global music, radio and podcasts revenue are predicted to increase by 3.6% a year from US$94.9bn in 2017 to US$113.4bn in 2022, with growth largely generated by the recorded music segment according to accountancy giant PwC’s latest Global Entertainment & Media (E&M) Outlook 2018-2022.
Consumers in developed markets are signing up for subscription-based music-streaming services from leading providers, as well as from more niche streamers, as the demand for owning music recordings wanes.
Global recorded music – key figures for 2017 Global revenue growth: +8.1% Digital share of global revenues: 54% Digital revenue growth: +19.1% Growth in streaming revenues: +41.1% Physical revenues: -5.4% Download revenue: -20.5% Global recorded music revenues increased by 8.1% in 2017 driven by a 41.1% increase in streaming revenues. With 176 million paying subscribers, streaming is now the record industry’s largest revenue source according to IFPI in its Global Music Report 2018. This is […]
YouTube Music gets new Explore tab and song lyrics and is rolling out these features to both its iOS and Android apps for both free and paid subscriptions. In the Explore tab you can find new releases and browse playlists by mood and Song Lyrics to sing along to your favourites. Both these features have been available to a small subset of users for a couple of months but have now been released to all […]
The Weeknd wins 2020’s IFPI Global Digital Single Award for Blinding Lights according to IFPI’s recently published Top 10 Global Digital Singles of 2020 chart. The IFPI Global Digital Single Award is presented to the world’s best-selling single of the year across all digital formats including single track downloads, and streams on both paid subscription services and ad-supported platforms. Blinding Lights was the second single from The Weeknd’s fourth studio album After Hours, which was released in March […]
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