With 40,000 tracks being uploaded to Spotify daily and music distribution effectively barrierless, it is little wonder that the consumption share of the top 200 artists is being slowly reduced on streaming platforms. At this point in time the main focus for labels remains share of streaming – driving more signings, more artists and more releases. This is all being squeezed into a pipe with a pretty narrow head.
Source: Three Supply-Side Indicators that Signal the New Music Industry Has Arrived | MIDiA Research