In a fulfillment of a RAIN News projection, and in what RIAA CEO Mitch Glazier calls “one of the most incredible comeback stories in modern commercial history,” the U.S. record industry in 2021 surpassed its previous record of annual revenue. The headline number is $15-billion. More than half of that is subscription streaming, and this milestone is a profound validation of that commercial model. Continue Reading
Jottings of Note, smart speaker edition
— Read It (The Podcast Reader)
— TOPcast (WTOP)
— Perspectives (Metal Injection & Spotify)
Missed the webinar? Would rather read anyway? Here is the transcript of the inaugural RAIN Podcast Business Lunch, featuring Tom Webster. Continue Reading
Brad Hill: Tom Webster is senior vice president of Edison Research. He’s been with Edison for nearly eight years. He has keynoted at conferences around the world. The Infinite Dial is Edison’s flagship consumer research in the audio field cited… Continue Reading
The U.S. recorded music industry is projected to exceed a 48-year revenue record set in 1999, according to RAIN’s examination of reports from the RIAA. The historical revenue high point was set in 1999 at $14.6-billion in recorded music revenue. Based on a persistent trend of H2 revenue exceeding H1 revenue, we project a new high water mark driven by streaming, the most lucrative channel for music labels. Click through for details and infographics. Continue Reading
A proposed bill called the American Music Fairness Act was introduced yesterday in a public spectacle attended by Dionne Warwick and other music celebrities. The legislation is fronted by congressional reps Ted Deutch (D-FL) and Darrell Issa (R-CA). Click for details on the argument and the proposed solution. Continue Reading
U.S. government-regulated collection agency SoundExchange distributed $947-million in online performance royalties last year. The money went to labels and independent owners of recorded music in 2020. It’s a 4.3% lift from 2019 distributions. Continue Reading
While listening trends are changeable on the whole, American in-car listening routines are decidedly un-modern. AM/FM radio, owned music files, and CDs are the most-used sources. Online streaming and podcasts are making gains, hampered by an 80% lack of in-dash entertainment systems in the American car fleet.
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In its fiscal-Q1 earnings report (quarter ending December 2020), Warner Music Group reported its highest overall quarterly revenue in its history as a standalone company, and 16% digital revenue growth. Streaming was discussed at length by CEO Steve Cooper and CFO Eric Levin. Click through for quotes, numbers, and analysis. Continue Reading
The IFPI has released its annual global music report, offering a look back at the results for an increasingly international industry over the course of 2019. As we’ve already seen in so many individual markets, streaming is continuing to secure growing shares of the music market. It was responsible for more than half of the global revenue in 2019, according to the IFPI’s results. Continue Reading
Adding to our takeover newsletter coverage yesterday of The Infinite Dial 2020, we will indulge in some pinpoint recognition of interesting results. Listening in the car is a key part of the Infinite Dial package. We noticed that “owned music” enjoyed the greatest growth as the audio source used most often in the car. Um, why? Continue Reading
RAIN published our annual Predictions feature in the first week of January. We challenged participants to predict a key metric in the RIAA 2019 report of streaming music revenue. Alexis van de Wyer and Steve Pratt were both right to a half percentage point. Continue Reading