Notes / Transcript:
In today’s episode we look into the latest IFPI Music Report, Soundcloud announce a collaboration with Twitch plus we have news from Apple Music, Patreon and more!
The IFPI have published their annual global music report. The 170 page document contains detailed data, analysis and a breakdown of revenues across more than fifty markets.
The biggest takeaway from the report is that total revenues for the global recorded music market grew by 8.2% to 20.2 billion dollars in 2019.
This growth was driven by streaming which is up by 22.9%. This more than made up for the decline in physical sales which shrunk by 5.3%.
Soundcloud plans to launch a slate of original live shows on Twitch. The shows will start this week and will include music shows, live performances, industry discussion and more.
Twitch and Soundcloud have worked together before. Soundcloud recently announced that pro users can have their Twitch affiliate-status fast tracked. This means artists can start to earn money from their Twitch streams right away.
Apple Music is testing adding audio books by music artists.
So far 13 audio books have been made available to stream on the music service. This is the first time Apple have added spoken-word content to the music platform.
Creator crowd-funding platform Patreon has seen a huge surge in sign-ups. Over 70,000 new creators have joined the platform since mid-March. This includes an 150% increase in the number of music artists using the service to earn revenue during the Coronavirus lockdown.
Bandcamp reported sales of over 7 million dollars during last Friday’s day of waived fees. This money will be paid directly to artists and labels without the platform taking any fees. The next fee-free day will be on the first Friday of June.
This has been your Fast Music News update.
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