Although the industry has been at odds with free, ad-supported music services such as YouTube for not returning significant revenue to music companies, RIAA data shows that "on-demand ad-supported streaming" — which includes YouTube, Vevo and the free version of Spotify — contributes $759.5 million annually, a 15 per cent increase since 2017.
The RIAA also revealed that vinyl sales continue to rise, up 8 per cent to $419 million in 2018, while CD sales fell 34 per cent to $698 million, the first time CD revenue was below $1 billion since 1986. Vinyl records now account for one-third of music industry revenue from physical formats.
How long this double-digit growth will continue remains to be seen. But as Glazier notes, “As our report illustrates, there are reasons to be excited for today and eager for tomorrow.”The letter demands transparency from recipients regarding any unauthorized use of SMG content and requests information on how such content....
May 17, 2024
UMG's revenue surged by 7.9% year-on-year in constant currency, reaching a substantial €2.59 billion, driven by robust expansion in all....
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The report showcases significant growth across various financial metrics, underlining the company's robust performance amidst a dynamic market landscape.
April 29, 2024
Operating from Dubai, Warner Music South Asia will be led by Jay Mehta, in collaboration with Alfonso Perez Soto, the....
April 15, 2024