A brand new report from BuzzAngle Music spells a promising, however altering, panorama for the way forward for the music trade. Examining trade traits and highlights all through 2018, BuzzAngle makes an attempt to create an correct highway map for the next 12 months.
Overall, music consumption has grown by double digit percentages in 2018. According to the report, complete consumption grew 16.2% over 2017, which already confirmed a 12.eight% improve over 2016. More individuals are listening to extra music than ever earlier than. (The variety of distinctive titles audio-streamed in 2018 totaled 3M greater than in 2017, a 9.2% improve.) Including each audio and video sources, complete streams have been over 809 Billion for 2018. With a ‘B.’
No doubt a part of that is because of the huge rise in Asian pop teams like BLACKPINK, Baby Metal, and BTS going completely viral, however American and European artists like Drake and Ed Sheeran are doing their justifiable share, as nicely.
However, the rise in streaming can be indicative of the loss of life of gross sales.
“Album sales and song sales continued to decline, 18.2% and 28.8% respectively,” states the report, “and physical sales declined 15.3%.” Though vinyl gross sales continued to develop, with a rise of 11.9% over 2016, the entire variety of gross sales (eight.6M) continues to be a far cry from CD gross sales even of their declining state (74.5M).
Regarding music exploration, the long run is shiny. There have been solely 9 songs that have been streamed greater than 500 million occasions in 2018, in comparison with 16 in 2017, six in 2016 and two in 2015. However, there have been 417 songs that streamed greater than 100 million occasions in 2018, in comparison with 383 songs in 2017, 226 songs in 2016 and 111 songs in 2015. This reveals that whereas shoppers nonetheless admire the hits, they’re additionally broadening their style and increasing into new territories. You can thank options like Spotify’s Discovery playlists for lots of this.
Still, for the second straight 12 months, Drake took the three largest awards: Artist of the Year, Album of the Year, Scorpion, and Song of the Year, “God’s Plan.”
You can learn the complete report accessible right here.