Streaming content has become a transformative platform and it has transformed the fundamental ways most young adults embrace entertainment, both music and non-music worldwide. Internet platform such as Amazon, HBO,Youtube, Netflix, Spotify with Pandora and a host of others obtain the licenses to stream content to users. The subscribers, with their phones, laptops, tablets and home internet connections select a platform, sometimes they select multiples. What does all of this mean for industry stakeholders?
According to an article posted on theguardian.com Feb 8th 2019 edition, there is a pronounced shift among young adults 15 to 24 year-old streaming habits. They are becoming less likely to listen to the radio or watch traditional TV as online streaming becomes more and more dominant. Furthermore, “Overall, 59% of U.S. adults say cable connections are their primary means of watching TV, while 28% cite streaming services and 9% say they use digital antennas.” Pewresearch.org September 13, 2017. What is more, the same survey found “Not only are people’s pathways to information and entertainment changing, Americans are also interacting with media in new ways, thanks to always-on mobile connectivity. For instance, 85% of adults ever get news on mobile devices and more than half set up their devices to send them real-time alerts about breaking news and other activities, such as new social media posts by their friends. Additionally, even by 2012 notable numbers were watching two screens as events or shows unfolded – that is, they were watching TV and simultaneously had a mobile device at their side to keep themselves occupied during commercial breaks or participate in social media chatter about the event”.
“Ka-ching.” That is the sound that reverberate with the industry and streaming has made that enormously possible by allowing some streaming platforms to take as much as 30% of subscriber’s fees. According to an article that appeared in wamu.org site July 22, 2019, “Industry strategy firm MIDiA Research notes that recorded music revenues ballooned to $18.8 billion last year, a $2.2 billion uptick from 2017 — within that, streaming was up 30% year on year, and climbed to $9.6 billion, in what they describe as "the engine room of growth" for the industry. In a 2018 year-end report, the Recording Industry Association of America (RIAA) touted the fact that "for the third year in a row, double-digit growth was driven primarily by increased revenues from paid subscription services including Spotify, Apple Music, Tidal, Amazon and others." The International Federation of the Phonographic Industry's (IFPI) most recent Global Music Report revealed that in the United States, streaming revenues steadily rose by 33.5% last year.
However, one particularly noting down side to streaming profits after the streaming platforms collect their 30%, of subscriber’s fees is the remaining estimated 70% revenue is divided among the record company, the producers and the performers. The pie gets even smaller if the songwriters are added to the equation. The proceeds could become further jeopardized if the composers, arrangers, not to mention the publishing holders and the lyricists cut.
Streaming doesn’t seem to roadblock Country music artist from being lucrative.
Top Country Albums
1. Southside by Sam Hunt
2. Tim McGraw greatest hits by Tim McGraw
3. Never will by Ashley McBryde
4. The Best if Kenny Rogers ( Through the years) by Kenny Rogers
5. For Better, or Worse by John Prine
6. Ocean by Lady Antebellum
7. “What You See Is What You Get” by Luke Combs
8. Dan+Shay by Dan+Shay
9. Hank Williams Jr’s Greatest Hits by Hank Williams Jr.
10. The Judds: Number One Hits
Written by Devon Fisher