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Shazam Tops 1 Billion Downloads, Achieves Profitability
Source:
HypeBot
Shazam announced that it has has been downloaded more than 1 billion times. The hugely popular music discovery app also joined a very exclusive club: it's a profitable music tech startup. Shazam today announced several impressive financial and user milestones. The popular music discovery app has surpassed 1 billion mobile app downloads and achieved EBITDA* profitability thanks to double-digit revenue growth. That scale has allowed Shazam to transition to advertising as its revenue source. Additionally, there are over 1,800 artists verified ...
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Fans Favor Experiences Over Downloads
Source:
HypeBot
A new Nielsen Music 360 report is out revealing, perhaps not unsurprisingly, that fans would rather spend their hard earned cash on live music experiences than digital downloads, as well as several other revealing numbers regarding consumer habits. Guest post by Taylor Mims from Amplify Fans are more willing to spend more money on live music than digital downloads, according to a recent Nielsen Music 360 report. The annual Nielsen Music 360 report is a comprehensive, in-depth study of consumer interaction with music in ...
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Consumerless Recovery: Music Revenues Up But More Pain May Be Coming [John Maples]
Source:
HypeBot
While the latest news from the music industry certainly seems positive, with eight percent growth in revenues courtesy of streaming, for those who look more closely there may also be some concerning indicators hidden within those numbers. Guest Post by Jon Maples News this week, for once, was positive for the music business. The RIAA released its report for the first half of this year and there was an eight percent growth in revenues over the same time 2015, thanks ...
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Playlists Have Passed Album Listenership, Says New Study
Source:
HypeBot
It's no secret that how music is discovered and consumed is changing at a dizzying pace, thanks to streaming music. The latest proof is a survey that shows that listening to playlists have surpassed albums for the first time ever. Playlists have surpassed albums as a format for music listening in the U.S., according to a new study conducted by LOOP and the Music Business Association (Music Biz). Based on a May survey of 3,014 U.S. respondents, the report shows ...
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Recorded Music Business Grew 8.1% In First Half Of 2016 Driven By Spotify, Apple Music
Source:
HypeBot
After a decade of decline, the U.S. recorded music business is growing for the second year in a row, according to the RIAA. Driving the trend is the revenue source that the music business loves to hate- streaming, and in particular Spotify and Apple. Retail spending in U.S. recorded music business grew 8.1% to $3.4 billion in the first half of 2016, according to new stats from the RIAA. That marks the second consecutive year of growth, after more than a decade ...
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Vinyl Sales Projected To Grow Exponentially Through 2020
Source:
HypeBot
The global vinyl records market is forecast to grow at a compound annual growth rate of 55.15% during the period 2016-2020, according to a new study by Research and Markets. According a new Research and Markets study, vinyl manufacturers are now focusing on technological advancements to maintain the strong growth, as well as adding capacity to their existing lines. A new HD vinyl record format is expected to hit the market soon. All will help propel a compound annual vinyl ...
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