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

The Recording Industry Association of America (RIAA)’s annual report revealed that, for the third year in a row, music revenue has been growing robustly. In 2018, music revenue enjoyed an 11.9 percent jump from 2017 for a total of $9.8 billion. The reason behind such growth, said the experts, is streaming services, which accounted for 75 percent of the revenue, equaling $7.4 billion. The RIAA also reported that sales of downloaded songs and albums have slumped significantly, below the sale of CDs and vinyl records. Continue reading RIAA Reports On the Rising Dominance of Streaming Music

Musical artists and music organizations are banding together in an effort to pass copyright legislation on content recorded before February 17, 1972. A coalition of 213 artists and eight music organizations has joined forces to ask Congress to pass the “CLASSICS Act” (H.R. 3301/S. 2393), which would cover such older recordings, resulting in increased royalties for this older era of musical content. The coalition placed a two-page ad in Politico on February 14 that made their case for the legislation. Continue reading Musicians and Music Groups Push for Updated Copyright Law

According to Google, only 54 percent of online video ads are viewable (excluding those on YouTube). More companies are trying to get people engaged with their online ads instead of scrolling past them. Viewers may be prompted to talk back, swipe, or shoot targets in interactive ads. This new type of advertising is aimed at mobile users as people increasingly use their phones to access the Internet. Google and other companies hope interactive ads may help generate more mobile advertising revenue. Continue reading New Wave of Interactive Ads Designed to Engage Mobile Users

Social network Facebook is making changes to its algorithm that determines what stories show up in its users’ News Feeds. The update will give major news events like the Ferguson riots more priority, so that people can share and discuss these stories as they unfold. Facebook has also been able to convince advertisers to spend on high user engagement. An eMarketer report shows marketers’ digital ad spending share is higher than the share of time people actually spend on Facebook. Continue reading Facebook Updates News Feed to Include More Current Events