music business week 1 part 1
DESCRIPTION
TRANSCRIPT
Survey of Music Business
Where are we now?
Interesting Statistics
• According to the New Music Seminar, in 2011 more than 94% of all released albums sold less than 1,000 copies.
• Digital delivery approximated about 50% of all music revenue in 2011 as well according to the Recording Industry Association of America.
• According to the RIAA, US digital music revenue increased 14% in 2012 to just over $4 billion, but an overall drop of nearly 1% in total revenue to $7 billion
From New Music Seminar and RIAA
RIAA 2012 Music Stats • Adele’s “21” sold 4.4 million units topping the charts last year.
• Physical album sales dropped another 12.8% in 2012.
• Vinyl album sales increased nearly 18% with more than 4.5 million units sold.
• Spotify had more than 5 million subscribers in 2012 as well.
• Radio spins are outnumbered by streaming media spins by a ratio of 132 to 1. (NMS stat from 2011)
• Radio spins were 158 million while digital streams were 21 billion.
US Digital Music Sales in 2011: Courtesy of RIAA
Gaming has a similar trajectory• Gaming revenue in the US totaled $14 billion in
2012 according to Games Market Dynamics Report.
• $5.9 billion came from digital sales, while physical sales approximated $9 billion, which is a drop of over 21% from 2011.
• Large studios are closing and getting away from physical platforms and consoles and going towards streamed and/or digital content.
Current Kick Starter Stats
What about recording studios?