Monday, 8 August 2016

62% of music sold comes from just 3 companies

"Despite massive disruption and upheaval over nearly two decades, the recorded music industry remains highly concentrated at the top.  According to data released by independent label group WIN, an astounding 62.4 percent of all music sold, downloaded, and streamed worldwide comes from just three major labels, in 2016.  In the United States, that figure is 64%, and a lopsided 77% in the UK.
The three major labels — Sony Music Entertainment, Warner Music Group, and Universal Music Group — are currently enjoying a surge in streaming revenues from companies like Spotify and Apple Music.  Spotify and other streaming services, in turn, are paying the greatest percentage of their royalties to the majors.  According to some estimates, the ‘Big Three’ command more than 80% of streaming royalties from Spotify, Tidal, Apple Music, and others."
Source:  Digital Music News, 3rd August 2016

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