Music Industry Analysis
On a daily basis, Music Biz collects studies and data on business and consumer trends effecting the music industry. We compile this music industry analysis from a plethora of media outlets and data providers and filter out the noise to deliver directly to you the actionable insights your business needs to succeed.
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July 16, 2019 – U.S. Consumer Tech Sales To Surpass $400 Billion Milestone in 2019, Says CTA
The growing popularity of streaming services, artificial intelligence-enabled emerging devices and in-vehicle technology will help drive the U.S. consumer tech industry to a record-breaking $401 billion in retail revenues in 2019 – 2.2 percent growth year over year – according to a new Consumer Technology Association (CTA)® report. Consumer spending on software and services (including music, video and gaming services) is projected to reach a new high of $75.6 billion in 2019 (a 14 percent growth over last year).... Read More
July 15, 2019 – Podcast Advertising Revenues Will Surpass $1 Billion by 2021
The podcasting industry continues to explode with potential for advertisers, and the numbers show it: Marketers spent $479 million on podcast ads in 2018, and podcast advertising revenues are projected to surpass $1 billion by 2021, according to figures from the Interactive Advertising Bureau (IAB) and PwC. “Podcasts are one of the fastest-growing, if not the fastest-growing category within digital audio,” said Lauren Fisher, principal analyst at eMarketer. “Performance marketers and brands are recognizing the value in reaching consumers who aren’t just tuning in to tune out—they’re tuning in to actively be entertained or engage their minds.... Read More
July 9, 2019 – Smart Speaker Shopping Gains Traction
Because shopping on smart speakers is gaining popularity faster than expected, research firm eMarketer has raised their latest forecast for smart speaker use. The firm reports that it expects 31 million people in the U.S. to shop via a smart speaker this year, up about 32 percent from 2018. This figure will climb to 38 million by 2021 according to eMarketer, as more than four in 10 US smart speaker users look to these devices for their shopping capabilities.... Read More
July 2, 2019 – Memes Are the New Pop Stars: How TikTok Became the Future of the Music Industry
In 2007, Soulja Boy’s ultraviral “Superman” dance made him the crown prince of YouTube. In 2014, Bobby Shmurda re-created that fervor on the deceased social network Vine, where six-second clips of his Shmoney Dance multiplied. And Lil’ Yachty and his lo-fi brethren will forever be defined as genre-bending SoundCloud rappers. Now TikTok—a Chinese-owned social network with an app that has been downloaded 950 million times—has minted a new class of trap-heavy rappers like Lil Nas X,... Read More
June 27, 2019 – Nielsen U.S. Music Mid-Year Report 2019
On-demand streaming continues to super-charge the U.S. music industry, according to Nielsen’s U.S. Music Mid-Year Report, as there were more than 507 billion on-demand streams in the first half of 2019. This exciting milestone was led by singles and albums by Ariana Grande, Billie Eilish, Halsey, Khalid, BTS, Lil Nas X and Bad Bunny that span a wide array of genres, moods and even languages. LPs remain popular among music aficionados, and independent retail events like Record Store Day continue to engage vinyl-loving music fans in droves.... Read More
June 27, 2019 – MIDiA Report: The Classical Music Market – Streaming’s Next Genre?
A recent report released this month by MIDiA Research found that a classical music resurgence is possible in today’s on-demand music streaming world. As music finds itself migrating from smartphones and headphones back into living rooms and cars, with the onset of new streaming platforms such as voice, classical music has the opportunity to find bigger audiences, reaching both its loyal aficionado listeners and its much broader potential audience of enthusiasts around the world. This study was put together from an online consumer survey of 8,000 adult music consumers across eight markets: the USA,... Read More
June 26, 2019 – The Smart Audio Report from NPR and Edison Research, Spring 2019
New research in The Smart Audio Report series from Edison Research reveals how smart speaker user behavior and perceptions are evolving, as owners ‘settle in’ with their devices and the market matures out of its introductory phase. According to the Spring 2019 survey, seven out of 10 smart speaker owners use their device daily despite common concerns around security and privacy, while those same factors are leading reasons non-owners have not acquired a device. “We are starting to see more pragmatic usage of these devices,” said Tom Webster,... Read More
June 25, 2019 – The Music Industry Signs a Pledge Against Fake Streams
Streaming manipulation – the practice of artificially inflating stream counts to produce false listening data – is the music industry’s hot-button issue at the moment. Last Thursday, an assortment of music publishers, record labels, royalty-collection societies and other groups signed a code of conduct condemning fake streams and pledging to work together to eradicate them, marking the industry’s first collective agreement on the issue. The document was two years in the making, shepherded in part by the International Confederation of Music Publishers (ICMP),... Read More
June 21, 2019 – Nielsen Audio Today 2019 Report: How America Listens
Radio specializes in boosting ad campaigns because it primarily reaches consumers during the day and away from home, when they’re on the go and closest to the point of purchase. This is a powerful advertising proposition, especially when you consider the impact of a captive audience in the car, where most of radio’s out-of-home listening happens. Increasing traffic and commute times aren’t likely to diminish anytime soon. This means radio will continue to reach a large segment of Americans when they’re on the move,... Read More
June 19, 2019 – Here’s How Tech Is Amping Up The Summer Music Scene
Music always plays a prominent part in most people’s lives, but its role during the summer is particularly special. From massive festivals with top-name recording artists to road trip playlists to travel to top hotspots with legendary nightclubs, music is absolutely key during this time of the year. But music’s intersection with technology is making for some particularly hot new trends that are setting a high bar for innovation while also driving bottom-line in business. Click here to read more.... Read More