Weekly New/Digital Media (31)

Music streaming hailed as industry's saviour as labels enjoy profit surge 
Irish band the Strypes perform a special Spotify set.

https://www.theguardian.com/technology/2016/dec/29/music-streaming-industry-saviour-labels-spotify-apple-music

Summary: "Some record labels have had their biggest revenue rise in more than a decade thanks to services such as Spotify and Apple Music"

5 years ago it looked like the music industry was in trouble with declining CD sales and increased piracy issues however things seem to have taken a turn over the last few years. Started of by Spotifiys rising profits now followed by Apple and Amazon making huge revenue increases.
Streaming is said to be so popular as it is easy and cheap to access for those who were unable to previously.
It is not just the three major labels, Universal, Warner and Sony, that are benefiting.

key facts/ statistics:

  1. Some record labels have had their biggest revenue rise in more than a decade thanks to services such as Spotify and Apple Music
  2. $1bn of that was from streaming, more than double its download revenue and more than $100m more than its physical revenue.
  3. In the first half of 2016, streaming revenue in the US grew by 57% to $1.6bn
  4. 90 million people signed up to streaming services worldwide and the shift,
  5.  condemned Spotify for only paying between $0.006 and $0.0084 each time someone listens to a song,
  6. If you look at the the raw numbers of people who are streaming, I think you could now argue that music has never been more popular.” - Paul Smernicki, who was head of digital at Universal Records for 17 years
  7. Official Charts Company decided to count streams, as well as physical sales and downloads, it has had to change the formula.
  8. 100 streams count as one “sale” of a song, but from January, the ratio will become 150:1 

My opinion:
I think its great that music is becoming popular, cheap and easier to access. I understand that artists may be upset for not getting as high of a earning as they preivously did but maybe that its just the true price we are willing to play, we have favioute songs not necessarily whole albumbs. Moreover it gives me hope of other media industries that feel they may be dying out, there seems to be loopholes in the process where its almost about starting a trend and attracting a much more avcive audience than before.

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