Music Canada’s Post

More than two-thirds of U.S. businesses engage in unauthorized use of consumer streaming services to play music, resulting in a $1.38 billion loss in value for the music industry. If we allow misuse to continue at this level, we diminish the value of music globally. Read the full article in Music Business Worldwide (MBW). 🔗: https://lnkd.in/g3fCxbe7 #musicstreamingforbusiness #musicindustry #musiclicensing

The Price of Music will dig into the finances behind the latest music industry news and cover everything from streaming to film syncs, publishing royalties to ticket prices; a great insight into the world of music business. https://lnkd.in/e5bFfGF9

Meanwhile, physical music sales now make up 17% of recorded music revenues, with 13.6% growth last year. Vinyl sales have been rising for a decade (CDs and cassettes are both growing too). Indie artists are under-indexing here, missing a huge opportunity. Fans love vinyl, cassettes, and CDs in ways streaming doesn't match. Make physical music a part of your release strategy. https://lnkd.in/gtJfsNhG

Luminate's mid-year report reveals remarkable trends in the recorded music industry for the first half of 2024. 📈 2.29 trillion global on-demand music streams, reflecting a 15.1% YoY growth. Independent artists are thriving, with a 5.1% increase in mid-tier artists achieving between 1 million and 10 million streams. The premium streaming market continues to expand, with paid subscriptions gaining a larger share compared to ad-supported streams. Latin music shines, but K-pop proves to be the genre with the most engaged fans, with over 70% streaming new releases within a week. 🎧 The recorded music market’s growth shows no sign of slowing down, making 2024 a banner year for artists, labels, and streaming platforms alike. 💡 For more updates, stay connected with EVEARA - your partner in music distribution! ✔️ #MusicIndustry #StreamingGrowth #Luminate #2024MusicTrends

More than two-thirds of U.S. businesses engage in unauthorized use of consumer streaming services to play music, resulting in a 3x loss in value to the music industry. If we allow misuse to continue at this level, we diminish the value of music globally. As featured in Music Business Worldwide (MBW) | Ola Sars #musicstreamingforbusiness #musicindustry #musiclicensing

New Post: Warner Music Group’s Quarterly Profits Up 14% on Streaming Growth - https://lnkd.in/gPXtKhnM - Warner Music Group reported on Wednesday strong streaming revenue growth and keeping a lid on its costs helped offset declines in merchandise and physical music sales in the company’s third fiscal quarter. Quarterly net profit rose nearly 14% to $141 million from $124 million in the third quarter last year. Overall revenue fell by 1% to $1.554 billion from $1.564 billion in the year ago quarter due to the roll off of BMG’s distribution deal and a difficult comparison to the year-ago quarter, which included a $7 million benefit from the Copyright Royalty Board in Phonorecords III. Related Warner Music Group Announces Major Executive Restructure, Max Lousada to Step Down 08/01/2024 The company’s digital revenue and streaming revenue were up 4.7% and 5.5% respectively, as subscription revenue grew 7%. Recorded Music streaming revenue increased 5.0%, and music publishing streaming revenue increased 7.9%. “Our strong subscription streaming growth in was driven by the performance of our music and healthy industry trends,” Warner Music Group chief executive Robert Kyncl said in a statement. “We’re nurturing the next generation of artists and songwriters, creating fresh impact for our iconic catalog, and working with our partners to increase the value of music. Our commitment to long-term artist development, combined with a flatter structure in recorded music, will enable us to super-serve talent and set WMG up for sustained future growth.” WMG’s operating income jumped 10% to $207 million in the quarter from $189 million in the third quarter last year. Adjusted operating income before depreciation and amortization (OIBDA), which measures profitability over a specific period of time, rose 6% to $316 million from $297 million in the prior-year quarter. Related Julie Greenwald to Exit Atlantic Records 08/06/2024 Revenue from WMG’s recorded music division fell by 2% to $1.251 billion from $1.282 in the year-ago quarter. This was due in part to the exiting of BMG as a client, which resulted in $26 million less revenue, and a “renewal with one of the Company’s digital partners” which created an additional $3 million drage on recorded music streaming revenue, the company said. BMG began winding down its distribution agreement with WMG’s ADA last September to move control of its 80 billion

2023 was a record-setting year for the music industry.   According to a new report from the Recording Industry Association of America® (RIAA), recorded music revenue in the U.S. reached a record high of $17.1 billion in 2023. And globally, the value of recorded music jumped 10 percent to $28.6 billion.    Streaming, as you might suspect, continues to be the dominant driver of this growth. But licensing deals – including for fitness apps, gaming, social networks, and ads – are adding more and more value. Plus, physical sales continue to mount a comeback with a double-digit growth in vinyl record sales.    All in all, it’s an exciting time for our industry. Yet, there are also challenges we must address to ensure this growth continues. In particular, we must be proactive about how we address the rise of Generative AI and the impact it will have on artists.    The music industry is well-positioned to set new records in 2024 – as long as we continue to empower and support human creators everywhere. Read more: https://lnkd.in/exKitKnF 

🎵📈 **Margrethe Vestager's response on the music streaming market** Margrethe Vestager responded to a written question regarding the music streaming market. She highlighted that the European Commission is aware of the dynamics of the European music market and recognizes the need for more comprehensive and transparent data. In 2022, the Commission published a report on cultural and creative sectors in the EU, including a methodology for measuring digital music services. A task force within Eurostat is currently working on new European cultural statistics, with specific improvements for the music sector starting in 2025. Initiatives like "Music Moves Europe" under Horizon Europe are also underway to address this need. In April 2024, a study on the discoverability of online cultural content, including music, was launched, with results expected in the second half of 2025. The Commission is actively monitoring music streaming markets and will use its powers to ensure a level playing field, notably by enforcing competition law. It is also following the implementation of Chapter III of Directive 2019/790/EU on fair remuneration for authors and performers. 🔗 [Link to the response](https://lnkd.in/esuGtkUG) 🔗 [Report on cultural and creative sectors](https://lnkd.in/ewhpCPGQ) 🔗 [Directive 2019/790/EU](https://lnkd.in/edh4vu9E) #MusicStreaming #MargretheVestager #DataTransparency #MusicMovesEurope #HorizonEurope #EUDirective

🎶 In a record-setting year for the music industry, sales of recorded music in the U.S. soared to $17.1 billion in 2023. Streaming led the charge with 84%, while vinyl saw double-digit growth. Discover more about the music boom and the changing landscape from the latest RIAA report. https://lnkd.in/gGK_hKJM #MusicIndustry

🎶 In a record-setting year for the music industry, sales of recorded music in the U.S. soared to $17.1 billion in 2023. Streaming led the charge with 84%, while vinyl saw double-digit growth. Discover more about the music boom and the changing landscape from the latest RIAA report. https://lnkd.in/eR_AMCeF #MusicIndustry