Mark Mulligan: Global recorded music revenues grew by 9.8% in 2023
by Mark Mulligan
The picture of music revenue is changing, with emerging revenue categories taking spotlight from older-school key metrics. This important guest column by MIDiA Research Managing Director Mark Mulligan includes a very informative infographic. Mark discusses a strategic shift in the industry. “Anticipating the streaming slowdown, labels and artists alike have been looking for diversification and new growth drivers, with superfans emerging as the central target.” Growth of physical revenues and “other”-category earnings are evidence of “superfan focus.” An essential read to understand how major labels view consumer preferences which shape major-label businesses. (And the infographic is must-see.) Continue Reading