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.”For the quarter ending September 30, Saregama reported a revenue surge to Rs 241.83 crore, up from Rs 172.35 crore....
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Sales for Music Broadcast rose by 4.56%, reaching Rs 54.83 crore in the September 2024 quarter, up from Rs 52.44....
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Net profit for the quarter rose by 21%, reaching Rs 48.2 crore. In the first half of FY25, revenue stood....
October 16, 2024