Moreover, the global expansion of music streaming services into emerging markets, particularly in Asia-Pacific and Latin America, is accelerating the ongoing international music streaming industry expansion. Such strategies by key companies are expected to drive the music streaming industry growth in the...
The streaming services brought in over $3 billion in revenue, which is a 68% increase from last year. This is the biggest upsurge in revenue since 1998 when the primary source of income were CDs. This growth in the music business is fantastic news. It implies that all the years that wen...
The music streaming industry was almost immune to the ill-effects of COVID-19 in Q1. In fact, the streaming hours increased as people stayed at home. Starting Q2, the market witnessed a slowdown in growth, driven by sequential decline in both paid revenues (people switching from a paid pl...
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In 2024, the total revenue of the recorded music industry amounted to 29.6 billion U.S. dollars. Global streaming revenues reached 20.4 billion U.S. dollars in the same year. Overall, recorded music increased by nearly five percent, representing a steady growth rate compared to the previous ye...
Q2 2024 faced intense music industry scrutiny, with Universal Music Group’s (UMG) streaming revenue growth lagging that of market leader DSP Spotify. A complex mix of factors contributed to this trend –– UMG pointed to sluggish performance of Amazon Music and Apple Music, though regional facto...
However, the social entertainment unit continues to weigh on overall growth due to the removal of certain live-streaming features to comply with Beijing's anti-gambling regulations. For the fourth quarter, revenue from the social entertainment services business, which includes karaoke app...
Thus, streaming, accompanied by live music sales, may actually be the driving force behind the survival and new growth of the music industry [9]. This led us to our hypothesis that the notable resurgence in live music can largely be attributed to its assimilation of digital innovations incorpor...
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Streaming growth helps Tencent Music Entertainment lift profits by a third in the second quarter, despite continuing reversals in social music.