Music Industry Analysis
Music Biz curates a feed of music industry news articles, business statistics and trend analysis from a variety of media outlets, filtering out the noise to deliver you the actionable insights you need to succeed. Starting in 2024, these articles will be accessible exclusively from Music Biz’s social media feeds.
September 29, 2020 – Going Swimmingly: Streaming Continues to Grow Among Consumers
When an unprecedented global pandemic forced many countries, cities, states and provinces to take drastic and restrictive social distancing measures, consumers had to hunker down. Like elsewhere in the world, consumers in the U.S. had to quickly adapt to not being able to do the things that were normal aspects of daily life: dining out, catching a ballgame with pals that weren’t cardboard cutouts—even just running out for groceries. Used to having these freedoms, many consumers turned to a medium that still let them have near complete control,... Read More
September 28, 2020 – Many US Adults Plan to Keep Digital Subscriptions They Started in March
Subscription services are still holding strong amid the pandemic. According to an April 2020 survey from The Harris Poll, many US adults said they plan to keep their music subscriptions (72%), exercise/fitness/wellness subscriptions (64%), and digital learning subscriptions (54%). News outlets are also seeing success, as 58% of US adults cited that they will maintain their subscription post-pandemic. The New York Times gained 669,000 digital subscribers in Q2 2020—pushing digital revenues into the majority for the first time,... Read More
September 24, 2020 – NPD Expects Historic Holiday for U.S. Consumer Technology Sales With 18% Growth in Q4 2020
In a year where technology has played an even more crucial role in keeping people connected, it may not be surprising that monthly technology sales have been up year over year since March, when COVID-19 restrictions began in the U.S. In the months that followed, technology sales experienced double-digit year-over-year growth and this momentum is expected to continue. In fact, according to NPD’s Future of Tech report, Q4 2020 will see historic growth of 18% compared to Q4 2019,... Read More
September 21, 2020 – How Has the Pandemic Affected Spending?
The US has seen plenty of recessions. But a recession during which consumers are largely confined to their homes for weeks on end and, when they do venture out, are afraid to set foot in stores? That’s something new. And there’s a mix of commonality and difference in the ways various income groups have responded to this weird set of circumstances. Opportunity Insights (a Harvard-based research project) said two-thirds of the total decline in credit card spending for January through May “had come from households in the top 25% of the income distribution.” Primed by stimulus payments,... Read More
September 17, 2020 – How USPS Pandemonium Threatens Indie Musicians and Labels
Mississippi indie label Fat Possum Records was deep into shipping copies of veteran punk band X’s first album in 27 years, Alphabetland, when they were faced with an unprecedented problem: How do you fit 1,000 vinyl records into a postal worker’s Jeep Cherokee? Read more from Rolling Stone.... Read More
September 17, 2020 – Podcasting Is a Bright Spot amid Declining Digital Radio Spending
Digital radio spending has declined during the pandemic, which is in line with reduced advertiser demand. But podcast advertising remains a bright spot of growth within digital radio. Spending on all types of podcast ads, including host-read sponsorships, will rise by 10.4% this year to more than $780 million. Next year, podcast ad spending will surpass $1 billion in the US for the first time as growth rebounds to 44.9%. That will boost podcast advertising to almost one-quarter of the digital radio ad market.... Read More
September 16, 2020 – How Working From Home Is Shaping Consumers’ Power of Choice
According to the Nielsen Remote Workers Consumer Survey, work-from-home consumers are largely enjoying this change in daily routine, as it’s allowed them to strike a better balance between working and living their best lives. And to no surprise, the new normal includes a heavy dose of media consumption. To learn more, we spoke with Peter Katsingris, SVP of Audience Insights, who provides additional insight into how consumers are settling into a reality where the lines between work and home life are blurring.... Read More
September 16, 2020 – Only 9% of Ad Buyers Have a Clear Budget for Next Year
Seven months into the novel coronavirus pandemic in the U.S., ad buyers are still entering the market with uncertainty. Spending on traditional offline media is expected to be slashed by almost a third, although this could be offset by the continued rise in digital media investment by advertisers. Read more from Adweek.... Read More
September 15, 2020 – Billboard Launches New Global Charts
For the first time, Billboard and MRC unveil two authoritative charts ranking the top songs globally. The new weekly charts, the Billboard Global 200 and Billboard Global Excl. U.S., are based on worldwide streams and download sales and will give an accurate glimpse into the most popular songs on the planet. Read more from Billboard.... Read More
September 11, 2020 – RIAA Releases Mid-Year 2020 Recorded Music Revenue Report
The Recording Industry Association of America (RIAA) has released its 2020 Mid-Year report cataloging revenues of recorded music in the U.S. across all formats, which also explores the effects the COVID-19 pandemic has had on paid music consumption. Despite the pandemic, the report finds that total U.S. revenues from recorded music in the first six months of the year increased by 5.6% to $5.7 billion. Paid streaming subscriptions, which jumped up 24% in H1 2020, continue to be the major driver of growth in the recorded music sector.... Read More
