Streaming subscribers now total 99 million in the US alone

A new report underlines the scale of the streaming-powered music business.

Based on new research, the US has reached 99 million streaming subscribers and 117 million users of advertising-supported services, and more than $10 billion in revenues generated for the broader music industry.

According to the new Streaming Forward report commissioned by the Digital Media Association (DiMA), the music industry is on track to achieve all-time highs for growth and revenue over the next five years as the streaming revolution continues to drive the industry forward.

Total US music streams reached the one trillion mark in 2019.

Read the full article at Music Week

Download the full report at DiMA

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#iVoted Initiative to Break All Records with Election Night Virtual Concerts
The list of performers is growing daily with over 225 committed thus far with many notable artists and another 700-900 more acts to be confirmed, making this the largest single night digital concert ever.

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Good Splits Launches New Royalty Calculator For Artists and Creators

Today (Aug. 24), Good Folk Music Management founder Jordan Mattison and New York-based digital agency Coalesce announced the wide release of its new free royalty calculator Good Splits, which aims to simplify the calculation and distribution of song royalties for artists and creators.

The goal, according to its creators, is simplicity: using sales and streaming data that is supplied by distributors, artists and creators can upload the data into Good Splits, input the information as to who gets what splits for each song, and calculate the royalties generated and owed, helping to clarify a process that is often murky and complicated.

Read the full article at Billboard

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RIAA Says SoundExchange Is Authoritative Source for ISRC Data in the U.S.

SoundExchange has been designated by the Recording Industry Association of America as the authoritative source for International Standard Recording Code (ISRC) data in the United States. Since 2016, SoundExchange has operated an online tool for looking up ISRCs — the global standard for identifying sound recordings, and the RIAA cited the firm’s work for endorsing it as the industry standard.

“Accurate and accessible data is vital to a healthy music industry, and serving as the authoritative source of ISRC data advances SoundExchange’s mission to ensure that music creators are paid accurately and efficiently,” said Michael Huppe, president & CEO, SoundExchange. “When we eliminate friction through better and more efficient technology solutions such as access to ISRC data, creators in the music community can focus on the music.”

Read full article at Billboard

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The MP3 At 25: How A Digital File Dynamited The Music Industry

A quarter of a century ago today, the MP3 was born. Eamonn Forde argues that this, not the invention of vinyl, was the most revolutionary format in musical history
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It was really just a name change because the technology already existed, but it was to become the luggage tag on a revolution.

On 14th July 1995, audio engineers at the Fraunhofer Society in Munich finally settled on what the filename extension for the compressed digital format they had developed should be named. What was previously known as .bit was now to be called .mp3.

The “MP3” eventually became a catch-all term for a downloadable music file. In truth, different services use different file formats such as AAC, WAV, FLAC, ALAC and DSD – all coming with different compression sizes and audio quality levels. But the “MP3” became, like “Hoover” and “Coke” before it, a common noun. We can get bogged down in codecs and nomenclature, but it is what the downloadable audio file represents that is our concern here. The simple truth is that the MP3 is the most influential music format of all time.

Read the full article at The Quietus

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As The MP3 Turns 25 this Week, We Look Back At Its Legacy

Two and a half decades ago, the MP3 compressed digital format came to market and launched a revolution in the way music is created, shared and listened to.

It was on July 14, 1995, that audio engineers at the Fraunhofer Society in Munich agreed that the ISO MPEG Audio Layer 3 would be given the name we know it by now.

This week as the music industry, fans and tech analysts looked back at the 25 years, there was a lively debate as to how influential the MP3 was, especially in opening the door to streaming.

Read the full article at The Music Network

Filed under: Composers, Copyright, Music, Music Artist, Songs, Songwriters, streaming, Technology, composer, Composers, mp3, Music, Music Artist, music business, music industry, Music Law, napster, Songwriter, Songwriters

rightsHUB Integrates with Leading Music Recognition Tech Companies

Music rights data and asset management platform rightsHUB has integrated data delivery feeds with five leading music recognition technology (MRT) companies to enable its users to register songs with MRTs in a single upload.

Read the full article at Platform and Stream

Filed under: Business, Copyright, Music, Music Artist, Songwriters, streaming, Technology, copyright, Music, Music Artist, music business, music tech, Music Technology, Songwriters, streaming