Every week, we’re sharing the latest news and information for the music industry and technology worldwide.
Get your learn on and stay in the know with Symphonic’s Music Industry News Roundup!
NYC’s Indie Week finally gets its recognized by the city.
The global independent music community may never have received as much recognition a as it did this morning when the City of New York turned up at A2IM’s Indie Week conference to officially proclaim June 6, 2017 the “American Association of Independent Music Day.”
\\ Via Billboard //
Apple Music has confirmed that its paying subscriber base has now topped 27m people – with an encouraging 7m signing up over the past half-year.
That marks the fastest six-month growth period in the platform’s short history, aside from its initial launch phase in the back end of 2015.
\\ Via Music Business Worldwide //
The US music industry is now worth $17.2 billion, according to data calculated by PwC. And more than half of that is coming from concerts.
Streaming is exploding. But a majority of the revenue in the music industry is coming from live events. According to US-based calculations shared by PwC with Digital Music News, ticket sales alone account for 43% of all revenues, with festivals driving the growth. Big brand sponsorships at events count for another 12%.
\\ Via Digital Music News //
Music is the ultimate good news-bad news business. Streaming is the future but it earns much less money than CDs, and although the live-music economy is booming, part of the reason for that is because artists have to tour — they can’t make money from selling their music.
Like the rest of the industry, synch licensing has good and bad news. The good news is there’s money out there — for artists, songwriters, labels, publishers.
\\ Via Variety //
Back in December, when Pandora first announced Premium, its all-you-can-stream music service, the company showed off a feature called AutoPlay — brought back to life from Rdio— that would keep the music going by creating a radio station based on what you were just listening to. But when Premium launched in March, AutoPlay had been held out of the initial release while the company fine tuned the product.
\\ Via The Verge //