Three major music labels make $19 million a day from streaming while artists count their pocket change

TwitterFacebook

Streaming services are now paying out big money to the music industry’s gatekeepers.

According to a new report by industry news outlet Music Business Worldwide, the three major music labels made $6.93 billion combined from streaming in 2018. The publication poured through recent investor filings from Universal Music Group’s parent company Vivendi, Sony, and Warner and found that the companies are totaling $19 million in daily streaming revenue.

Broken down even further, the trio of labels generate nearly $800,000 per hour just from music streaming services.

As Rolling Stone points out, when looking at the combined revenue for the three labels across all formats and commercial endeavors — $13.14 billion — streaming revenue accounts for more than half of that. That’s more than a 10 percent jump when compared to how much streaming revenue accounted for in 2017. Read more…

More about Sony, Spotify, Tidal, Apple Music, and Music Streaming

Read more: feeds.mashable.com

Leave a Reply

Your email address will not be published. Required fields are marked *