That’s according to US market monitor Luminate, which revealed that the 1 trillion mark was crossed in the US on Saturday. That 1 trillion figure grew by 11.9 billion compared to 2021, when the full-year tally for music audio streams in the US was 988.1 billion, according to Luminate data. That 1 trillion figure is also 7x larger than the number of music audio streams achieved in the US in 2015, when 142.9 billion were recorded in the world’s largest recorded music market.
On Nov. 21, Universal Music Group’s Deutsche Grammophon launched Stage+, which for $14.90 a month offers music from the label’s archive and that of sibling Decca Records. In terms of popularity, Stage+ can’t compete with mainstream platforms, but it’s not meant to – and it doesn’t even need to. It could make money with a number of subscribers in the low six figures, partly because it costs more than other services, and it gives Deutsch Grammophon a way to market other products directly to consumers.
The music industry is accustomed to leveraging marketing tools, but it’s finding TikTok increasingly tough to control. “TikTok is eating itself,” declares Max Bernstein, who founded the marketing agency Muuser. “It still drives consumption if you get it right, but it’s much harder to maneuver now. Trends are siloed when they used to be community-wide, and influencer media is becoming prohibitively expensive.”
A 2018 study by San Francisco-based engineer Michael Tauberg concluded that songs on the Billboard Hot 100 shed around 40 seconds since 2000, falling from 4:10-ish to roughly 3:30. The average length of the top 50 tracks on Billboard‘s year-end Hot 100 in 2021 was even less, a mere 3:07. “It’s a reaction to the culture of soundbites that we moved towards,” says Vincent “Tuff” Morgan, VP of A&R at peermusic. “I have producers in the studio this week just going through and making songs shorter.”
In a bid to differentiate itself, Symphonic Distribution has opened up what it says are detailed TikTok analytics to DIY artists as part of its new $19.99 per-year ‘Starter Plan’, which also includes unlimited releases. “There are many providers of DIY distribution, but when we looked closer, we found that the offerings at the intro pricing levels are very limited,” claims Jorge Brea, founder & CEO of Florida-headquartered Symphonic.
Combined subscription cancellations across 10 leading subscription-based video-on-demand (SVOD) services rose by 14% in Q3 2022 in comparison to both Q2 and Q1, according to Antenna. More than 32 million subscriptions were cancelled across the tracked services in Q3, compared to 28 million in each of the two previous quarters.
The world’s biggest record labels and streaming services are not making excessive profits at the expense of artists struggling to make a living from the digital music revolution, a long-running investigation by the UK competition watchdog has concluded. The Competition and Markets Authority said artists’ concerns about low returns were understandable, but intervening in the market would be unlikely to help.
Does Iger pull back on the promises to Wall Street both he and Chapek made of reaching break-even on streaming spending by 2024? Does he repeal Chapek’s projection of up to 260 million subscribers by then? Should the company sell more projects to other outlets, or make fewer shows for its streaming services? For that matter, is streaming still the future of the company?
World of Women confronts the limits of selling cartoon avatars on the blockchain after the crypto bubble burst. It was still summer, but “crypto winter” had descended—bitcoin and other cryptocurrencies had collapsed, wiping out some two trillion dollars in value since crypto’s market peak, in November, 2021. N.F.T. trading volume had fallen by more than ninety per cent since January. Selling cartoon women on the blockchain was no longer a sustainable business model.
Despite some of the realities for niche indie-released music, the founders of New York-based indie label Mom + Pop remain optimistic. Rather than harking back to an era gone by, Michael Goldstone and Thaddeus Rudd wholly accept the world they are currently operating within. “There are platforms out there, exposing music to so many people, across all genres and all ages, in a different form to what we might have ever expected,” says Goldstone.