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BuzzAngle: Music streaming, vinyl growing in 2017
Rounding up recent tech news that impacts livelihoods in the creative community …
BuzzAngle Music report: Paid subscriptions grow
On July 4 BuzzAngle Music published statistics for mid-2017 music consumption, showing much-needed strength in paid streaming subscriptions and the continued resurgence of the vinyl format. Digital music is rising fast while physical music continues to decline with the exception of vinyl. Sales of vinyl albums in 2017 increased more than 20 percent compared to 2016. Streams account for the increase of more than 29 percent in song consumption, more than 58 percent in total audio streams and more than 69 percent growth in paid subscriber listening. Subscription streams grew from more than 73 percent of all streams in 2016 to more than 76 percent this year. With a 9.9 percent total increase in overall music consumption, it seems likely that the music industry's recovery will stay strong.
Nielsen Music report: GRAMMYs boost sales, streaming
Corroborating BuzzAngle's overall outlook, Nielsen Music released its own U.S. mid-year report on July 5 in conjunction with Billboard chart data. "The rapid adoption of streaming platforms by consumers has generated engagement with music on a scale that we've never seen before," said Nielsen Music's David Bakula. The report identified events such as the Super Bowl and 59th GRAMMY Awards as positive boosts for music consumption: "The songs performed at the GRAMMYs added 319,000 song sales and nearly 21 million on-demand streams." In terms of individual album sales, Kendrick Lamar's DAMN. leads the pack so far, followed closely by Ed Sheeran and Drake.
Jay Z's 4:44 goes platinum exclusively on Tidal
On June 30 Jay Z released his new album, 4:44, as an exclusive on his streaming service Tidal. Less than a week later, on July 5 the RIAA declared the album platinum. Tidal investor Sprint participated in the album's promotion, prompting comparisons with Jay Z's 2013 Samsung-sponsored release of Magna Carta: Holy Grail. In a period that has seen album sales decline, 4:44 has bucked the trend with vigor, recruiting even more new listeners to the paid subscription model, with the added twist of Sprint's mobility business.