Global recorded music revenues grew by 9.8% in 2023
Music Industry Blog
by Mark Mulligan
1w ago
Growth is back! After a slower 2022, global recorded music revenues grew by 9.8% in 2023 to reach $35.1 billion, compared to 7.1% in 2022, which means that the market is now more than double (124.5%) the size it was in 2015. 2023 was the year in which the industry settled back into a positive growth trajectory after the volatility of the pandemic and post-pandemic years. But the numbers also point to a market that is embarking on a major period of change. The recorded music market is becoming more diversified, and although streaming is still the centre piece, its role is lessening. Streaming ..read more
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Music creators – take our survey!
Music Industry Blog
by Mark Mulligan
1M ago
MIDiA is fielding its annual music creator survey and if you are a music creator we would like you to take part. Whether you are a songwriter, artist, producer, engineer, vocalist, DJ, instrumentalist, soundtrack composer, or whatever you may be, we want to hear from you. This is an opportunity for you to have your voice heard on some of the most important issues facing music creators in today’s industry.  On top of that, all participants will receive full access to the results of the survey so you can benchmark yourself against your peers. You will be able to compare against the industry ..read more
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Music subscriber market shares 2023: New momentum
Music Industry Blog
by Mark Mulligan
1M ago
With UMG leading the charge to reshape the music industry into a more label-friendly form, 2023 may, with hindsight, go down as the year before everything changed. Whatever lies ahead though, new models will take time to deliver benefits. Music subscriptions are therefore going to remain the bedrock of music rightsholder revenues for the foreseeable future. So, it is a good thing that music subscriptions had such a good year in 2023. As of Q3 2023, there were 713.4 million music subscribers globally, which was 90 million up on the 623.4 million one year earlier in Q3 2022. This matters f ..read more
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MIDiA’s 2024 predictions: The algorithm is not listening
Music Industry Blog
by Mark Mulligan
3M ago
November is one of my favourite times of year, as an analyst anyways. Why? Because it is when the MIDiA team pool their collective brainpower to formulate our end-of-year predictions. What gives our predictions their unique angle is that they are constructed within an inter-connected framework, factoring in the cross-industry trends that will shape the coming years. A music industry trend does not happen in isolation of social media trends, nor vice versa, and so forth. We boast a solid track record, with an 88% success rate in both our 2023 and 2022 predictions, following 84% and 79% in the p ..read more
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State of the music creator economy – The consumer era 
Music Industry Blog
by Mark Mulligan
3M ago
MIDiA is excited to announce the publication of the latest edition of its annual ‘State of the music creator economy’ report. Based on months of research, MIDiA creator and consumer surveys, market sizes and forecasts, this report is the definitive assessment of the music creator tools industry. The report is available to clients here. The highlights: The pandemic triggered a surge in the music creator economy, bringing an influx of interest and investment. Suddenly, everyone was talking about music creator tools while investors ploughed investment into leading companies, like Native Inst ..read more
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Spotify re-positions two-tier licensing (we are getting closer, and it can be even better)
Music Industry Blog
by Mark Mulligan
4M ago
Spotify released a blog post laying out how it wants the world to understand its new two-tier royalty system. The positioning is clear, leading with the statement that it will drive “an additional $1 billion toward[s] emerging and professional artists” and the PR push included several supporting quotes from the independent sector (with no major label quote to be seen). Positioning-wise, this is certainly now a case of ‘where it started’ (reverse Robin Hood) and ‘how it is going (everyone is a winner). Of course, the truth lies somewhere in between, but we are getting to a better plac ..read more
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Why artist subscriptions are the perfect partner to two-tier licensing
Music Industry Blog
by Mark Mulligan
5M ago
With two-tier licensing now a thing, it is time to focus the discussion on how to add new components to the DSP ecosystem that will help long-tail artists continue to thrive in this brave new world. There are many positives that two-tier licensing will bring (helping mid-tier artist remuneration, attaching an appropriate premium to lean-forward listening, etc.) even if the streaming fraud efforts will likely soon be offset by bot farms increasing their minimum streams thresholds. But the potential downturn to long-tail artist income is a very real prospect. Not only could artist subscript ..read more
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Two-tier licensing is about to become a reality 
Music Industry Blog
by Mark Mulligan
5M ago
With the dust still far from settled on the UMG / Deezer streaming royalty proposal, something even bigger is coming: Spotify is turning the concept into reality in Q1 2024. The behind-the-scenes conversations have been ongoing for some time, but the details were stated publicly on panels at last week’s ADE conference, meaning that the information is now firmly in the public domain. Obviously, nothing is official at this stage, so consider this ‘as reported’ information. Even if the final details end up varying, what is clear is that two-tier licensing is about to become a reality. Things are ..read more
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Music has become a ‘just-in-time’ economy
Music Industry Blog
by Mark Mulligan
5M ago
The modern day economy is built upon ‘just-in-time’ supply chains. This framework has enabled the benefits of consumerism that we have come to enjoy, such as next day delivery, out of season foods on our shelves, and the digital devices we live our lives through. Each component of the just-in-time economy works in tightly coordinated partnership, from factories, through transport, to point of sale. The underlying principle is that every component is manufactured and delivered at just the right time, to ensure that there is a continual throughput of production, assembly, and consumpti ..read more
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Spotify’s audiobooks move is another brick in the audio wall
Music Industry Blog
by Mark Mulligan
6M ago
Streaming has come a long way since its days as a pure music service for super fans. Spotify’s announcement that it is making 15 monthly audiobook hours available to premium subscribers is simply the latest step in a journey that has seen streaming become the 21st century’s take on radio. This has been achieved with the steady addition of non-music content (podcasts and audiobooks especially) and a growing emphasis on programmatic lean back consumption. As with all change, when it sits in an extended period of transformation, its immediate impact is often under-recognised. Audio ..read more
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