Music service Spotify says it paid out $10bn to the music industry in 2024, taking its lifetime payments to nearly $60bn.
Category: Data
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Global music collections grew by 7.6% in 2023 says Cisac
Global collecting societies body Cisac has published its annual ‘Global Collections Report’ aggregating data from its 227 member societies.
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Beggars Group revenues passed £100m with 13.3% rise in 2023
Independent firm Beggars Group has published its financial results for 2023, which saw the company’s revenues pass £100m.
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Italy’s recorded music revenues up 15.1% in first half of 2024
Italy is the latest country to record encouragingly strong growth in its recorded music revenues this year.
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Hybe revenues up 3.1% year-on-year as Weverse returns to growth
South Korean music firm Hybe recently signalled its latest global ambitions with its ‘Hybe 2.0’ strategy under a new CEO.
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Songwriters study criticises ‘lack of meaningful streaming income’
Songwriter complaints about music’s streaming economy have been vociferous over the last decade and a half.
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UMG calls out subscriber slowdown at some big music services
Business continues to be good for Universal Music Group, which published its latest quarterly financial results yesterday.
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Brits benefit from Beyoncé and Blur bonanza of tourist spending
British industry body UK Music has published its latest research, focusing on music’s value to the country in tourism terms last year.
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Spotify posts record quarterly profit… but user growth misses guidance
Spotify has published its financial results for the second quarter of 2024, with a record operating profit of €266m the highlight.
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Should skipped songs be valued less on streaming services?
If your track gets skipped a lot on streaming services, it’s not great news, but should there be a direct financial penalty?
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French collecting society Sacem reports record annual figures
Are you even a collecting society in 2024 if you’re NOT announcing all-time record collections and/or distributions?
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Spotify reveals sharp increase in payouts for Nigerian artists
Spotify has been breaking down its latest Loud & Clear payout stats geographically this month. Nigeria is the latest example.
