Recorded music revenues in the United States reached $8.4 billion for the first half of 2023, an all-time high for the period that translates to a 9.3 percent increase, according to the Recording Industry Association of America (RIAA). Streaming continued to thrive, accounting for a whopping 84 percent of the six-month revenue total, or $7 billion. Total revenue from paid subscription services grew 11 percent to $5.5 billion, nearly double the growth in the number of individual paid accounts, which rose by just over 6 percent year-over-year, to an average of 95.8 million accounts. Continue reading Streaming Drives Music Revenue in the U.S. to a New Record

Redbox, known for its red kiosks where users can rent DVDs and Blu-ray Discs, has unveiled a new on-demand streaming service for movies and TV shows. The new service is not subscription-based but, similar to iTunes or Google Play, allows the user to pay for each movie or show that they rent or buy; the on-demand service, currently in public beta, will offer the same kind of new release movies and shows available in the kiosks. The privately held company offers content from every studio except Disney. Continue reading Redbox in Public Beta for New On-Demand Streaming Service

BitTorrent recently partnered with Rapid Eye Studios to produce original video content. BitTorrent, the popular platform for peer-to-peer sharing of movies, music, and other media content, plans to create new original content as well as distribute it through the company’s publishing gateway, BitTorrent Bundle. The company’s first original, “Children of the Machine,” is slated for release this year as a free version that includes ads or a premium, ad-free version priced at $9.95.  Continue reading BitTorrent Partners with Rapid Eye Studios for Original Video

Technics announced it plans to launch Technics Tracks, a high-resolution music download service, in the U.K. and Germany starting in January. In addition to tens of thousands of 24-bit FLAC tracks, the service will also carry CD-quality tracks up to 16-bit/44.1kHz. All purchases will be stored in a cloud locker, available for download to multiple devices. The service, custom built by platform operator 7digital, will be accessible from Macs, PCs, and apps for Android and iOS. Continue reading Technics to Launch Hi-Res Music Download Service in Europe

Universal Music is developing a crowdfunding service that will support limited-edition releases of out-of-print vinyl records. The Vinyl Project aims to bring back rare and deleted records from Universal’s back catalog. CMU reports that releases currently being considered for availability to funders include “ABC” by The Jackson 5, Björk’s “Biophilia,” “Goodbye Yellow Brick Road” by Elton John, “His N Hers” by Pulp, Def Leppard’s “Hysteria” and “Disraeli Gears” by Cream. Continue reading Universal’s Crowdfunding Effort to Save Out-of-Print Vinyl

According to fourth quarter estimates released this week by the NPD Group, Apple’s iTunes continues its stronghold with a 63 percent unit share of the U.S. market for digital music downloads. Amazon.com’s MP3 store held second place at 22 percent. Notably, the NPD “Annual Music Study 2012” indicates that eight out of 10 consumers downloaded digital albums or tracks during the fourth quarter from iTunes. Continue reading After a Decade, iTunes Continues its Market Dominance