Posts tagged with "music streaming"

Headphones illustration by Heather Skovlund for 360 Magazine

Music Streaming Revenues Jump

Music Streaming Revenues to Hit $23B in 2021:

A 50% Jump Compared to pre-COVID-19 Figures

Like many other sectors, the music industry has been significantly affected by COVID-19, with the massive cancelation of live events and huge ticket sales revenue drops amid the lockdown. With earnings from live music events shrunk to the lowest level in history, artists increasingly rely on income from streaming platforms. According to data presented by BuyShares.co.nz, music streaming revenues are expected to hit $23bn in 2021, a 50% increase compared to pre-COVID-19 figures.

Revenues to Jump by $3.3bn in a Year, Number of Users to hit 620 Million

Even before the pandemic, the music streaming industry witnessed impressive growth, with revenues rising by a CARG of 20% year-over-year. Statista survey showed that in 2017, the unified market was worth $10.5bn. In the next two years, this figure jumped to $15.2bn. However, last year, music streaming platforms witnessed the biggest annual revenue growth, as COVID-19 halted live events. Statistics show that revenues surged by almost 30% year-over-year and hit $19.7bn in 2020. The ongoing lockdown is expected to continue driving a rise in music streaming consumption, with revenues growing by another $3.3bn this year. By 2025, the entire market is forecast to hit a $33.3bn value. The Statista survey showed the number of people using music streaming platforms also surged amid the pandemic and jumped from 425.6 million in 2019 to 626.2 million in 2021. More than 900 million people worldwide are expected to use music streaming services in the next four years.

Spotify hit 155 Million Premium Subscribers in 2020, Double than Apple Music

As the world’s largest music streaming market, the United States is expected to reach 100.7 million users and $8.7bn in revenue in 2021, a 16.6% increase in a year. The Chinese market, the second-largest market globally, is forecast to grow by 20% YoY and hit $2.2bn value this year, almost four times less than the leading US. Nevertheless, with 177.7 million users in 2021, the country has the largest number of people using music streaming services globally. According to Hootsuite’s Digital 2021 Report, more than 81% of surveyed internet users in China reported listening to music streaming services last year. The United Kingdom ranked as the third-largest music streaming market with $1.4bn in revenue this year.

As the biggest music streaming service globally, Spotify (NYSE: SPOT) hit 345 million monthly active users and 155 million premium subscribers in December 2020, a 25% jump in a year. While Apple (AAPL: NASDAQ) hasn’t publicly commented on its subscriber count since reaching 60 million in June 2019, estimates from MIDiA Research put Apple Music subscribers at 72 million in 2020, or half the Spotify count.

 

The full story can be read here.

The Weeknd by Republic Records Media for 360 Magazine

THE WEEKND – BLINDING LIGHTS

“BLINDING LIGHTS” BECOMES THE ONLY SONG IN HISTORY TO SPEND A FULL YEAR (52 WEEKS) IN THE TOP 10 OF THE BILLBOARD HOT 100

DIAMOND­ CERTIFIED ARTIST THE WEEKND SURPASSES 80 MILLION RIAA DIGITAL SONG CERTIFICATIONS, MOVING INTO THE TOP 10 FOR MOST DIGITAL SINGLE CERTIFICATIONS OF ALL TIME

“BLINDING LIGHTS” IS THE BEST-SELLING SONG OF THE PAST YEAR WORLDWIDE AS RECOGNIZED BY THE IFPI WITH THE COVETED “GLOBAL DIGITAL SINGLE AWARD”

Exceeding yet another impressive benchmark, diamond-selling Toronto artist The Weeknd’s smash single “Blinding Lights” has again broken chart records spending its 52nd week in the top 10 of the Billboard Hot 100. It becomes the first song in the history of the chart (which began Aug. 4, 1958) to spend a full year’s time in the top 10.

Additionally, The Weeknd has received the 2020 IFPI Global Digital Single Award for the septuple-platinum smash “Blinding Lights.” The Global Digital Single Award recognizes the best-selling single of the year worldwide across individual track downloads as well as paid and ad-supported streams. This marks his very first IFPI honor.

In its continued dominance, his blockbuster chart-dominating fourth full-length album, After Hours, has also garnered multiple new certifications from the RIAA. After Hours has reached double-platinum status while standout tracks “Save Your Tears, “After Hours, and “In Your Eyes” have all progressed to platinum. Additionally, “Blinding Lights” has officially been minted seven-times platinum. With these developments, he has reeled in a staggering total of 80 million-plus RIAA Digital Song Certifications, placing him in rarified air and in the “The Top 10 Most Digital Single Certifications of All Time.

The Weeknd recently announced the After Hours World Tour. The 104-date global tour will kick off on January 14, 2022 in Vancouver at Pepsi Live at Rogers Arena with stops in Chicago, Dallas, Los Angeles, Miami, Paris, London and more, before wrapping November 18 in Glasgow at SSE Hydro. The announcement comes just days ahead of the multi-platinum singer’s headlining Super Bowl performance, and also includes a handful of rescheduled dates shifting from 2021 to be a part of the After Hours World Tour in 2022. Tickets are on sale now. Full routing can be found HERE.

ABOUT REPUBLIC RECORDS
A division of Universal Music Group, the world’s leading music company, Republic Records is home to an all-star roster of multi-platinum, award-winning legends and superstar artists such as Ariana Grande, Black Thought, Drake, Florence + the Machine, Greta Van Fleet, Hailee Steinfeld, Jack Johnson, James Blake, James Bay, Jessie J, John Mellencamp, Jonas Brothers, Julia Michaels, Kid Cudi, Lil Wayne, Lorde, Metro Boomin, NAV, Nicki Minaj, Of Monsters and Men, Pearl Jam, Post Malone, Seth MacFarlane, Stevie Wonder, Taylor Swift, The Weeknd and more. Founded by brothers and chief executives Monte and Avery Lipman, it is also comprised of innovative business ventures, including American Recordings, Boominati Worldwide, Brushfire, Casablanca Records, Cash Money, Lava Records, XO, Young Money, among others. Republic also maintains a long-standing strategic alliance with Universal Music Latin Entertainment (J Balvin and Karol G).  In addition, Republic has expanded to release high-profile soundtracks for Universal Pictures (Fifty Shades of Grey), Sony Pictures (Spider-Man Into the Spider-Verse) and NBC TV (The Voice), as well as other notable film and television franchises. Extending further into the worlds of film, television, and content, Republic launched Federal Films in order to produce movies and series powered by the label’s catalog and artists. Its first production was the Jonas Brothers documentary Chasing Happiness for Amazon Prime Video.

 

Lucky Daye Table For Two shot by Mark Peaced

LUCKY DAYE’S NEW EP: TABLE FOR TWO

Grammy-nominated singer-songwriter Lucky Daye shares his latest EP, Table For Two, out now on Keep Cool/RCA Records. The EP follows his 2019 highly acclaimed debut album,Painted and comes off the heels of standout new single “On Read” with Grammy-nominated East London prodigy Tiana Major9. The release, timed perfectly for Valentine’s Day, features powerful contributions from Ari Lennox, YEBBA, Mahalia, Queen Naija, and Joyce Wrice making this a mandatory listen for any and all music lovers across eras and genres.

Early on in life, Lucky Daye discovered his love of music and natural gift for singing and songwriting in the musical melting pot that is New Orleans, where he was born. Ultimately Lucky knew he wanted to pursue music as a career so he moved to Atlanta for a brief stint and eventually ventured to Los Angeles to pursue his dream. He was shortly thereafter picked up by Keep Cool under RCA Records, where he recorded his 2019 breakthrough hit “Roll Some Mo” which has aggregated over 60 million streams worldwide. Earning first ever GRAMMY nominations that same year, Lucky Daye raked in a grand total of four nominations for Best R&B Song, Best R&B Performance, Best Traditional R&B Performance and Best R&B Album. This widespread acclaim also came in from his selective feature choices with KAYTRANADA, Buddy, SG Lewis, Big Freedia, Kehlani, Kiana Lede, Babyface, Victoria Monet, and more. His critically acclaimed work has received unanimous praise from Rolling Stone, NPR,Noisey, Billboard, The FADER, and Daye has found himself in 2021 with his dreams being manifested. With praise such as:

“…Far ahead of his competition in the genre. Daye’s forlorn vocal manipulation has drawn comparison to Frank Ocean, but his versatility and strategic fusions of funk and jazz nod to how he might set himself apart…”– NPR

“Lucky Daye can do it all. The versatility of his music makes him hard to box in one genre [and] shows elements of his skillfulness with songs full of strings, funk and tempo.” – HYPEBEAST

TABLE FOR TWO TRACKLISTING:

How Much Can The Heart Take feat. YEBBA

On Read with Tiana Major9

My Window feat. Mahalia

Access Denied feat. Ari Lennox

Falling in Love feat. Joyce Wrice

Dream feat. Queen Naija

Stream it now here.

NE-YO illustration done by Mina Tocalini of 360 MAGAZINE.

NE-YO × LÜM

LÜM, a Madison-based tech startup that’s revolutionizing the way artists and fans stream and discover new music, has closed a Seed II round of funding and will continue its innovative launch of the first virtual gifting system implemented to help the development and profitability of independent artists in the music streaming industry.

Over the past year, the music streaming and discovery application built on a stand-alone social network has enabled emerging artists to circulate their music to larger audiences, grow their fan base and make money.

The Company’s Seed II financing comes alongside the rapid growth of the LÜM platform’s first-ever direct-to-artist financial support system with the launch of virtual gifting to the app in January. With this successful round of funding, the Company looks to continue developing innovative methods that empower independent artists. In just over a year, the LÜM platform has grown to over 100,000 users and over 200,000 tracks uploaded to the app, making LÜM one of the largest user-uploaded music streaming services in the US. Alongside additional investors, the Wisconsin Alumni Research Foundation (WARF) participated in this funding round.

LÜM is thrilled to announce its partnership with multi-GRAMMY Award winner NE-YO and Compound Entertainment co-founders, music executives; Tishawn Gayle and Rynell “Tango” Hay. In addition to his Global Ambassador title, NE-YO will be launching the first ever remix competition for his new single U 2 Luv featuring Jeremih. The winners will be hand selected by NE-YO and collectively receive up to one million Notes (LÜM’s in-app currency). A first ever contest of its kind for the app.

“The digital music landscape is changing, and LÜM is excited to be leading that change for how artists and fans consume, share and support music,” said Max Fergus, CEO and co-founder of LÜM. “Our partnership with NE-YO reinforces LÜM’s mission to create a new platform, outside of traditional streaming models, that provides all of the tools artists need to grow their careers and be successful promotionally, artistically and financially.”

“I am honored to join the LÜM team as we embark on making fundamental changes to the music streaming industry that will allow us to give back to the music creators and will significantly impact the digital distribution of music,” said NE-YO.

Tishawn Gayle, co-founder of Compound Entertainment states “Every so often a product hits the marketplace that’s truly disruptive. I wholeheartedly believe LÜM is that product. This social music discovery platform truly puts music discovery back in the hands of the cool kids while continuing to support the artists and creators monetarily through virtual gifting.”

Within six months of the launch of LÜM’s virtual currency, over 13,000 artists have received direct support from fans. Over 21,000,000 Notes have been gifted to artists. Each Note has direct financial value equal to the average royalty payout per stream on alternative streaming platforms. In the future, LÜM looks to apply its virtual currency to new areas of the music industry and continue to pursue the company’s ultimate goal of creating a path for independent artists to make a career out of their passion for music.

LÜM is a music streaming and discovery application built on a stand-alone social network that enables emerging artists to circulate their music and grow their fan base. The LÜM platform focuses exclusively on emerging artists and increases fan-to-fan and fan-to-artist engagement through the gamification of music discovery, and the platform’s first-ever direct-to-artist financial support system with the launch of virtual gifting to the app in January 2020.

Artists upload their content and connect with fans on LÜM’s platform. Fans discover artists and circulate music by discovering, sharing, and engaging with their friends and peer communities. Founded in 2018, LÜM is headquartered in Madison, WI.

Shaffer Chimere Smith better known as NE-YO, who is now in his fourth season as a judge on NBC’s “World of Dance.” In his career to date, he has sold a cumulative 20+ million adjusted albums worldwide. The Motown Records/Compound Entertainment recording artist has won three GRAMMY awards and been honored with a total of 14 nominations. His first single, 2005’s “So Sick,” hit No. 1 on the Billboard Hot 100, and was certified quadruple Platinum. Since then, he has racked up a collection of hit singles – including “Sexy Love,” “Closer,” “Because of You,” “Miss Independent” and “Push Back” featuring Bebe Rexha and Stefflon Don. Three of his albums have entered SoundScan’s Top Current Albums chart at No. 1s a Grammy Award-winning American musician who sings R&B. In 2004 he wrote “Let Me Love You” for Mario. It was number one in the Billboard Hot 100 for nine weeks. After this, Def Jam Recordings signed him. His debut album, In My Own Words, was released during 2006. Other albums then followed. In 2009, Billboard ranked him as the 57th Artist of the 2000s decade. He is known for songs like “So Sick”, “When You’re Mad”, “Closer”, “Miss Independent”, “Let’s Go” and “Give Me Everything”. The first and last song both reached number one on the Billboard Hot 100.

For the past 15 years Compound Entertainment has been on the forefront of identifying and working with emerging talent. Founded by CEO Reynell “Tango” Hay and his partner COO Tishawn Gayle, they have devoted almost two decades to working with and developing artists. Music has always been at the core of what Compound stands for. They have made it their mission to work with artists at inception and have since gone on to launch the careers of countless multi-platinum artists. Most notably their partnership with Multi GRAMMY Award winner, writer, producer, and actor NE-YO, who has been with the company since its start.

Follow NE-YO: Facebook | Instagram | Twitter | YouTube

Follow LÜM: Facebook | Instagram | Twitter 

Lauv illustration done by Mina Tocalini of 360 MAGAZINE.

Lauv – Love Somebody

Lauv releases the video for “Love Somebody,” a track off of his surprise Without You EP released last month. Since its release, “Love Somebody” has surpassed over 15 million streams. The intimate video was directed by Hunter Lyon (blackbear, Whethan) and premiered on MTV Live and mtvU. 

Lauv’s Without You EP released last month featured 4 tracks that were all written and produced during quarantine with Amy Allen (Halsey, Selena Gomez), DallasK (Fifth Harmony) and Johnny Simpson (Christina Aguilera, Ava Max), among others. In conjunction, Lauv also released the quarantine made video for lead track “Dishes.” 

 Lauv’s debut album ~how i’m feeling~ released in March as a Top 20 album in 10 territories, including #9 in UK and #5 in AU, with over 1.5 billion streams on the album to date.

 Follow Lauv: Facebook | Instagram | Twitter | YouTube

FindMyFans

FindMyFans wants to solve the problem of revenue generation for artists and bands by utilizing data already being generated from their social media and streaming profiles. This data, when combined and visualized in the app, will give users an accurate reflection of their fan activity and listener locations. This will empower them to plan better touring routes and create targeted marketing plans to maximize their profits. 

The app’s goal is to be a resource for everyone in the music industry from professionals to DIY artists. According to founder & CEO, Ravi Ramkeesoon, “Location intelligence is the most effective of the metrics from social and streaming from an artist and bands as it serves as markers for where they already have traction.  Many times, these markets are unknown or are overlooked butcan represent additional revenue opportunities.  They’re an artist’s pot of gold. FindMyFans will be able to identify these new opportunities.”The goal of the campaign is to raise $170,000USD to finalize the app’s development, test, and launch in the App Store and Google Play.

Key Features Include:

* Top Countries Played

* Top 50 Global Streaming Songs

* Social & Streaming Trends

* Top Songs by Genre

The timing for this type of app is perfect as streaming has continued to grow and social media is widely and regularly used all over the world. According to Nielsen’s 2018 Year-End Music Report, American music streaming volume continued to rise, with the total number of on-demand audio song streams reaching 611 billion in 2018, a sizable 49% increase over the same time period in 2017. Overall on-demand music streaming volume, including video, surpassed 900 billion streams, an increase of 43% over the same period last year. Additionally, 90% of millennials globally are active on social media (Emarketer, 2019). This means the data that artists and bands generate from their social and streaming accounts generate valuable and growing information into their brand awareness. 

Understanding where these listeners are coming from is vital to their long-term success. Momentum has been growing for FindMyFans as they are in the Project Music Portfolio Portfolioa program at Project Music in Nashville, TN.Additionally, they have entered into a strategic partnership with a leading US equipment instrument retailer Guitar Center. “A strategic partnership between FindMyFans and the Artist Relations Division of Guitar Center makes sense because of our shared vision. Guitar Center has been the leading source for music creators, empowering them with instruments. FindMyFans vision is to empower music creators with reliable data that will enable them to find their fan bases and ultimately, expand their brand presence and lead to more revenue opportunities.” Said, Judd Goldrich, Artist Relations Manager, East Coast, Guitar Center. The campaign launches on August 8th and runs until September 14th. Prospective donors can visit the Indiegogo page here.

Lil Uzi Vert x Pandora

Stemming from Sunday night’s VMAs, Lil Uzi Vert, who won best Song of the Summer with “XO TOUR Llif3″, has had a HUGE 487% week over week increase in artist station adds


The winning track was included in Pandora’s annual Songs of Summer predictions, and has racked up over 73 million spins to date, bringing Lil Uzi Vert to over 578 million spins total!