Digital rights agency Merlin shows, based on their own survey, buying music albums is on the out, and the good news is revenues from digital music are increasing. Eight-fold-grow in four years. Except for YouTube.
Merlin’s survey represents over 20,000 independent record labels, which is a 12 percent chunk of the market. That is a huge portion, the largest not represented by the ‘big three’ of Sony, Warner, or Universal Music Group.
Of those surveyed, 39% report that digital music represents 75% of their revenue.
Video services, however, showed negligible growth. Half of the respondents reported that less than five-percent of their digital revenue came from YouTube or similar services, even though video platforms have 10-times as many users as ones that only stream audio.
The only relative step backwards is the industry-wide under-performance of video-streaming. If we can address this market anomaly, then the uplift across the business would be enormous.
Read up on it in this interesting article
Source: TheNextWeb / Merlin.