Artists only received 12% of the revenue generated in the music industry in the United States in 2017 according to a new report by Citigroup.
The report, Putting The Band Back Together, which was carried out by a group of Citigroup researchers and analysts, shows that roughly $5 billion of a total $43 billion generated in the United States’ industry went to artists. Most of the money instead went to distributors like radio stations, tech companies, Internet sources like Apple, Pandora, Sirius, and Spotify, as well as to record labels.
Imagine the scenario – you walk into the booth with nothing more than a pair of headphones, login with your username and password to the always-connected CDJ and your whole music library, playlists, cue points and every track ever released on Beatport is at your fingertips, immediately recalled from the cloud and ready to play within seconds. No USB sticks, no SD cards, just a username and password and an unlimited supply of records.
YouTube has officially launched its new YouTube Music and YouTube Premium streaming services.
Beatport will soon be allowing users to stream their catalogue to DJ software. As we reported earlier this year, electronic music streaming platform Pulselocker was acquired by Beatport, leading the way for a transition from download store to streaming platform.
Beatport has acquired Pulselocker, a streaming and storage platform designed for DJs to access and play music from the cloud. Announcing in November that they were to cease operations, Pulselocker had already been adopted into both Serato DJ and rekordbox, allowing users to stream tracks directly into the DJ software.
The streaming wars are warming up with the revelation that Apple Music has overtaken Spotify in the US, the biggest music streaming market in the world.
But don’t be fooled though, Spotify still has almost double the number of subscribers and is still the leading streaming service in several other major regions, including Europe.
According to the WSJ, Apple Music — which only launched a couple of years ago — has seen a huge increase in users, partly due to the fact it’s been preloaded on every iPhone sold since Apple bought Beats from Dr Dre for $3 billion.
YouTube has revealed its intentions to launch a paid music streaming service in early 2018. The Spotify rival is internally being called Remix.
Reports indicate a planned start date of March 2018. YouTube has already secured an agreement with Warner Music Group and is in talks with Sony, Universal, and independent-record labels collective Merlin.
Remix follows Red and Music Key in YouTube’s attempts to further compete with music-streaming platforms. The Remix platform will incorporate certain YouTube elements like video clips.
SoundCloud is running out of cash and will only survive “until Q4” reports sources within the streaming platform. Q4 starts in 50 days.
The news arrives less than a week after co-founders Alex Ljung and Eric Wahlforsshref laid off 40% of their workforce and shut down their San Francisco and London offices.
Whilst not everyone is reaping the rewards of the current music streaming boom, a new report from Music Business Worldwide states that the three major labels are making $9,000 a minute from streaming music alone.
That works out at $540,000 per hour and $12.5 million every day, which means this year the three major labels — Sony, Warner and Universal — could pocket a staggering 5 billion between them if growth continues at the same rate.
Coachella's first weekend is almost upon us and if you can't make to Indio fear not as there will be three channels of live streams on Coachella's Youtube channel to keep you entertained.
You can check out the entire live streaming running schedule here — where you can actually create you're own custom made schedule using Coachella's handy scheduling tool — but we've also gone to the trouble to pick out all the dance-orientated acts across the festival's three days.