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Music Industry Sees First Big Gains in 20 Years Thanks to Streaming Services
Thanks to subscription-based music streaming services, the music industry is seeing a significant growth for the first time in nearly two decades. According to International Federation of the Phonographic Industry (IFPI), an industry trade group, the global music sales rose 3.2 percent last year, also surpassing those from all physical music formats. The important tipping point in 2015 saw digital services account for 45 percent of recorded music revenue. According to the report, Spotify, Apple Music and other music streaming services brought in about $2.9 billion in revenue. The findings are in line with Recording Industry Association of America (RIAA)'s estimates from last month. IFPI also noted that music on free streaming services such as YouTube has also grown quickly, creating a panic among record labels and artists alike. Billboard elaborates that aspect: In criticizing ad-supported services, the IFPI joined a growing list of trade bodies and music company executives to criticize YouTube for paying royalties that are relatively low when considering its popularity. The report argues YouTube distorts its negotiations with labels by hiding behind the DMCA "safe harbor" rules that limit the liability of online intermediaries from the infringing actions of their users. The result, the IFPI argues, is YouTube can use an "act first, negotiate later" that "fundamentally distort[s] the negotiation process."
You think selling music online was his idea do you? It wasn't even Apples idea. Fanboy, much?
But if youtube send us those damn ads we have to sit through until "skip" comes up, or worse the ones where you have to wait for the whole thing to finish, the least they can do is cough up the money to the labels or individual musicians if self published.
It sure wasn't. But what company actually made it work?
Right now, the industry is being subsidized heavily by VC money.
If you were me, you'd be good lookin'. - six string samurai
Spotify seemed to make it popular.
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Too bad the music industry fought like hell to stop the very thing that would eventually make them rich, again.
Now they might try putting out music that didn't suck. Seriously, today's twerk-a-licious and computer generated, autotuned stuff makes 1960's bubblegum music and disco look good.
The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
I seem to recall somewhere that the RIAA said that the internet was killing music...
there's value in offering existing services in more useful ways but god dammit steve jobs isn't a "visionary" any more than your typical hedge fund manager.
So, the music industry, which until now absolutely loved the DMCA because they could hide behind the "good-faith" clause, is now upset that someone else is doing the same thing? Go cry me a river, then look up "Law of unintended consequences."
"Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
The artists who create the material. Like most people who have to actually work for a living, they are too submissive in negotiations, especially now that self publishing is comparatively trivial to past times when physical media was required.
“He’s not deformed, he’s just drunk!”
30 some years ago most people only listened to the radio and never bought albums. music streaming is the same thing. except for a few decades, most artists have made money by touring and playing live. i don't get this infatuation with the idea that some people should release a work of art and then be able to sit home and collect money off it.
The funny thing is that they could have been making the same profits for the last 20 years if they had just stopped fighting the Internet and started streaming services and Internet downloads. Just shows how stupid these morons really are. Even I knew 20 years ago that trying to fight online music was totally futile and the only solution was to embrace it.
I was going to post a quip along the lines of now they found some more profitability how are they going to rape it such extremes it dies a slow agonising death that they can blame on piracy but yeah, try and squeeze youtube out of everypenny, yep that'll do it.
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"Greedy fuckers in music industry grudgingly admit that maybe the sky not falling as predicted; predict that sky will fall due to 'that darn Youtube needs to pay us more' despite $billions in music industry growth."
Does that about sum it up?
-Styopa
It's a seller's market.
“He’s not deformed, he’s just drunk!”
It sure wasn't. But what company actually made it work?
Since this article and report is specifically talking about subscription streaming services being the key success factor, the answer to your question is not Apple.
News to me. 30 yrs ago I went to the record store every chance I could because I didn't want to wait for my favorite stuff to be on the radio. Had a decent collection at one time.
C|N>K
30 years ago people were buying cassettes, not albums, and while lots of people were making mix tapes and passing them around, we still bought some of our cassettes from the actual music industry. If you liked a band the radio would only play one or two of the biggest hits from their album, you had to buy the cassette if you wanted to hear the rest.
The Moore-Murphy Law: The number of things that will go wrong will double every 2 years.
Not only do I have to agree with that, but I have to point out that Steve Jobs specifically mentioned something about users wanting to pay to own the music they pay for during a Keynote. I can't remember which one though, but it was in the first few years of iTunes.
No, It's a RIAA market. The artists don't get jack shit from streaming services or CD sales. The only time an artist makes anything is from concerts. My son has been in several bands, several music CDs, opened for top bands, award winning music videos, etc. The only money was touring the country doing concerts, and that barely covered expenses. They haven't seen a cent from CD sales, because after the RIAA and retail outlet took their share, nothing was left. They do it for the passion of the music they make.
Dude, what did the Federation of the Pornographic Industry do to you?
Music Industry/Movie Industry/Entertainment Industry in a nutshell:
Announces to the world: RECORD PROFITS! SALES ARE UP! :D
Tells the government: WE ARE LOSING BILLIONS TO PIRACY. WE ARE GOING BANKRUPT AND DYING HERE. HALP. D:
So streaming has caught on and people are liking it. It's making money. That means it's now the perfect time to start balkanizing the industry with exclusives to specific services, raise prices, and strangle it before it gets any bigger.
I mean, if the music industry is doing well, they won't be able to bitch and moan and lobby gov't to impose more and more draconic legislation to combat piracy.
Well, to be fair, Steve Jobs was likely still in the mindset of the older crowd, thinking back when they grew up, that music put out back then was actually worth buying and owning, to be replayed over and over....
As opposed to the drivel that's come in the the past 2+ decades, which is largely disposable at best...so, sure people would rather stream, listing to something a month, then forget about it.
Light travels faster than sound. This is why some people appear bright until you hear them speak.........
Now they'll make sure that their catalogs are spread evenly across five or six different streaming services and keep them all fighting against each other. They don't want a unified front of streaming providers pushing back and demanding a bigger slice of the pie.
The media industry learned its lesson back when Steve Jobs dunked on them with the negotiations for the iTunes Music Store. The fragmentation happened to Netflix, it will happen to Spotify and co.
Our civilisation will not collapse if RIAA dissapears
kids bought the music. most adults i knew had old collections from their youth and hadn't bought anything for a long time while their kids were buying the music
that almost as bad as my wife and i having to get up for work every morning and then paying bills at the end of the month
1. Are the artists actually being compensated properly now?
2. Assuming the answer to #1 is 'yes', is the music industry going to stop whining now?
Are YOU using the TOOL, or is the TOOL using YOU? Think about it!
Spotify didn't make "selling music online" popular, because when you use Spotify, you aren't "buying" anything. You are essentially paying money to listen to the 2016 equivalent of FM radio. The music isn't yours when if can be gone any time they want it to be.
So most new listeners are Italian?
What?
http://www.acetonestudio.com
30 years ago people were buying cassettes, not albums
WTF do you think the word "album" means?
You got me there. Generally when we talked about albums we meant vinyl record albums, but you're right, the word album doesn't specify the medium.
The Moore-Murphy Law: The number of things that will go wrong will double every 2 years.
At the party I said "I work for the "International Federation of the Phonographic Industry". She said "You work in the porn industry?" I said, "No, the Phono industry."
30 years ago people were buying cassettes, not albums
If only they'd come out with the in-dash record player...
So the music industry is making a ton of money on streamed content, after all. Those artists who are objecting to getting a billionth of a cent on each streamed play should direct their ire at the nonproducing greedy hog middlemen, not at streaming technology.
If only they'd come out with the in-dash record player...
Not sure whether you're serious, but Chrysler offered a record player as an option in their cars from 1956 to 1961. The last model had a 12-platter changer.
Music was better back in your day? Whoah bullshit. No it wasn't It was on average the same. I don't care what time period you're talking about. Good music will always be made as long as people love it.
Easy, granddad. You do realise that two decades ago people your age now were saying the exact same thing? You are not even being original with your complaining.
Well, not so much.
I actually did and still DO like most of the music from before my time...back to and before when Rock and Roll began.
But in the 90's...things really started to go downhill and I think the fact you still see little kids wearing AC/DC t-shirts and the like instead of big fans of the modern big group (are there any?).
Light travels faster than sound. This is why some people appear bright until you hear them speak.........
I remember when the music industry went all berserk on Napster with the goal to kill once and for all any technology usable for streaming and sharing files on line. Some eventually came to their senses and saw this as an opportunity...interestingly, it was tech giants like Apple and Google, not the record companies.