Streaming = 84% of U.S. recorded music revenue as total inches up in first half
In the recently released U.S. music revenue report from the RIAA (Recording Industry Association of America), we see that the streaming channel accounted for 84% of earnings. That metric (and all others in this report) is for the first half of 2024 (H1). In a more exacting metric of the same period, revenues from paid subscription services grew 4% to $5.7 billion and accounted for 78% of streaming revenues – nearly two-thirds of total mid-year revenue.
Total revenue for U.S. recording in H1 was $8.67 billion. (See the graphic below.) In that encompassing revenue bucket, physical formats accounted for only 12%, while digital (which is mostly streaming but also includes music downloads and ringtones) came to 88% at $881 million.
‘Toby Keith: American Icon’ Allowed the Late Superstar to Gather One Last Massive Audience
Last month, Toby Keith: American Icon aired on NBC. The two-hour concert special brought some of the biggest artists in country music together at the Bridgestone Arena in Nashville, Tennessee to celebrate the life and legacy of Toby Keith. The 20,000-seat arena was packed on the night of the concert. However, that audience paled in comparison to the number of fans who tuned in across the country to watch the tribute show. According to press materials, the tribute concert drew 4.7 million viewers. This includes the initial broadcast on August 28 as well as the encore stream on Peacock the next day. It was NBC’s biggest primetime entertainment special of 2024. More impressively, Toby Keith: American Icon sits among the top ten broadcasts of the year across the board. Throughout his life and career, Keith drew huge crowds and delivered hit after hit. In a sense, he was able to do it one more time through the artists who gathered to honor him that night.
YouTube is developing tools to detect AI-generated voices and faces in videos
YouTube has announced it’s building tools that will be able to detect AI-generated voices and likenesses of people in videos on its platform.
In a blog post on Thursday (September 5), the video platform said it’s working on a “synthetic-singing identification technology” that will enable YouTube partners to automatically detect content that simulates singing voices.
The technology will exist within Content ID, the tool that YouTube developed in 2007 to identify music posted to its platform, enabling music rights holders to be paid for unlicensed uploads of their music. The tool was the breakthrough feature that ended a long-running dispute between YouTube and music rights holders over unauthorized music on the platform.
Nashville’s United Record Pressing Celebrates 75 Years
United Record Pressing, America’s oldest vinyl record pressing plant, is celebrating 75 years in business.
Five days a week for the last 75 years, over 120 employees cut, silver, electroplate, press, inspect and package vinyl records to be sent to every corner of the globe, all from their operation on Allied Drive in Nashville. Over seven decades of experience has translated into modern-day integration, such as exploring how AI-powered technologies can detect plating issues before they affect production or through collaborations with Sibert Instruments to apply optical disc technology to vinyl as well as the plant’s installation of 24 new Pheenix Alpha pressing machines in addition to the restoration of 40 historic Lened and SMT machines. United Record Pressing has also made significant strides in sustainability, becoming the first North American plant to earn a Sony Green Partner Certification in 2023.
Vinyl has seen 17 consecutive years of revenue growth, reaching $1.4 billion in 2023, and United Record Pressing has sought to be a significant contributor to this resurgence.
SiriusXM Kicks off New Phase as an Independent Public Company
Sirius XM Holdings Inc. (NASDAQ: SIRI) today kicked off a new chapter as an independent public company with a simplified capital structure and strategy for continued success following the closing of its transaction with Liberty Media.
"Today SiriusXM embarks on a new phase in our journey as an independent public company, building on our leading position in audio entertainment," said Jennifer Witz, Chief Executive Officer of SiriusXM. "We've created a strong and profitable business, anchored by a subscription service that fosters deep and loyal connections with our listeners and a growing digital audio advertising platform which extends our reach to fans around the world, and we are excited about the future as we look to expand and strengthen both platforms."
"As we look ahead, we remain committed to three key objectives: enhancing subscriber value with a focus on content, technology and pricing; growing our advertising offerings to both engage new listeners and deliver effective results for advertisers; and driving efficiency across the organization to continue our strong track record of financial performance.
U.S. Recorded Music Hit Record $8.7 Billion in Mid-Year Revenue, But Growth Is Just 4%: RIAA Report
The U.S recorded-music industry posted record revenue of $8.7 billion based on solid streaming and vinyl numbers, according to the RIAA’s mid-year report, but growth was just 4% — half of the 8% growth of 2023 — amid thousands of layoffs at labels, a leveling-off of the streaming boom and talk of a “transformational moment” in the months and years to come.
Notable points include streaming comprising approximately 84% of total revenues for the fifth straight year, with $5.7 billion in paid subscriptions accounting for nearly two-thirds of total mid-year revenue and averaging 99 million plans, compared to 96.5 million in 2023.; however, subscription growth was down significantly from previous years, up just 2.5 million when compared year over year with 2023 (6.5 million), 2022 and 2021 (around 8 million each).
A Rockier Road to
Redesignation? MLC Faces Reform Demands from Congress Amid USCO Review — Multiple Music Industry Organizations Are Also Raising Concerns
The road to redesignation just got a bit rockier for the Mechanical Licensing Collective (MLC), which is facing urgent calls for reform from a federal lawmaker as well as organizations including the Songwriters Guild of America (SGA) and Music Creators North America
(MCNA). SGA, MCNA, and the Society of Composers & Lyricists (SCL) today reached out with a formal release doubling down on demands for “much-needed operational and structural improvements” to the Mechanical Licensing Collective. Those improvements were most recently described by Representative Scott Fitzgerald (R-WI) in a letter to Register of Copyrights Shira Perlmutter late last month. Reports have pointed to difficulties in accurately paying out the sizable tranche in question, which, regardless of the parties to whom the funds actually belong, will seemingly be forwarded to publishers based on market share, regardless of ownership, when all is said and done.
(“It is estimated that over $300 million remains in this so-called ‘black box,'” per Representative Fitzgerald’s letter.)
Indie Record Stores Host Listening Parties For George Strait’s New Album
George Strait’s Cowboys and Dreamers album went to 87 indie record stores before its release for listening parties nationwide on Sept.
4. Indie record stores nationwide are celebrating Strait’s 31st studio album by hosting the listening events two days before its release on Sept. 6. Full store, city and state details can be found at
recordstoreday.com. Produced by Chuck Ainlay, Tony Brown and Strait, the album’s title comes from a song penned by Jessie Jo Dillon, Keith Gattis and Bubba Strait. “I thought I should name the whole album Cowboys And Dreamers as I feel like the last of a dying breed, trying to find where I fit,” Strait offers of the track.
The follow-up to Honky Tonk Time Machine, Strait’s 27th No. 1 Billboard Country album, Cowboys And Dreamers features 13 new songs, including three already released tracks—“Three Drinks Behind,” “MIA Down in MIA” and “The Little Things”—as well as “Honky Tonk Hall Of Fame” featuring Chris Stapleton and Strait’s rendition of Waylon Jennings’ “Waymore’s Blues.”
Strait has one final show in 2024, supersizing his long-standing “Strait to Vegas” show at Las Vegas’ Allegiant Stadium to mark the 37th installment of the tour with Stapleton and special guests Little Big Town.
What Makes a Great Intro?
While it’s okay to start a song with little fanfare, history shows what a difference a well-conceived introduction can make. Facing a notorious home run hitter in the ‘80s baseball film Bull Durham, upstart pitcher Nuke LaLoosh waves off catcher Crash Davis’s request for a curve, stating that he’d rather lead with his fastball in order to “announce my presence with authority.” The idea backfires when a miffed Davis tells the hitter that a belt-high heater was on its way, permanently setting the rookie straight.
Still, there are times when it really pays to announce one’s presence with authority, particularly when it comes to presenting a new song to the public. That’s the job of the intro—a brief but ear-grabbing burst of sound that could be an extract from the chorus, a captivating guitar riff, or even just a few bars of drums or percussion. Here we look at some notable examples of classic song-starters, and the almost endless array of intro ideas you can explore.
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more here.
Marketing vs Advertising: What’s the difference?
“Marketing” is a term that gets thrown around a lot in the music industry.
Confused about the difference between marketing and advertising? Learn how each strategy can help you grow your fanbase and take your music career to the next level.
Music Marketing vs. Advertising: What’s the Difference?
“Marketing” is a term that gets thrown around a lot in the music industry.
But it’s important to understand exactly what marketing is (and isn’t) if you want to drive results for your music. And one of the more important things to clarify is the difference between music marketing and music advertising.
Here’s a quick explainer for musicians.
