The last six months have been anything but dull for the music industry. Year to date, multiple records have already been smashed, chart history has been made, and numerous genres have experienced exponential growth. Welcome to Nielsen’s Music Mid-Year Report.
While overall audio consumption is up this year at about 9%, the most significant gains have been made by the music industry’s golden child — streaming services. According to Nielsen’s report, weekly on-demand audio streams surpassed 7 billion for the first time ever during the week ending March 9th. At only halfway through this year, weekly on-demand audio streams have reached over 7.5 billion! In comparison to last year, while video streaming has grown by about 5%, audio stream consumption has increased by about 62%! Overall, audio streaming consumption sits at 184.3B year to date. That’s one heck of a lot of streams and the year is only half way through.
Source: Nielsen.com / Music Mid Year Report 2017
What does this all mean?
Well, in short, it validates that streaming continues to be one of the most lucrative channels for artists to grow their revenue base. It also means that it’s more important now than ever before to ensure you team-up with a streaming partner who promises and delivers on effective global digital distribution to all the major streaming services such as Spotify, Apple Music, YouTube Red, Amazon Music, and more.
For the full U.S. Music Mid-Year Report which explores the definitive figures and charts for the music industry for the first half of 2017, you can download it from Nielsen’s website here: http://www.nielsen.com/us/en/i…
Stay on top of all the latest news in the industry. Subscribe to the AWAL Weekly and get posts directly to your inbox!
