A lot of merry music history has unfolded before our very eyes in the month of May, 2018. Let’s see what all the excitement is about…
$100 million was given very recently to Oak View Music Group from investment firm Silver Lake. Oak View Music is looking to build something of an empire in the live music industry. The company was founded less than three years ago by (Midem 2018 keynote) CEO Tim Leiweke and longtime music manager Irving Azoff. Oak View music has the building and acquisition of venues for live music performances in the US, Europe, and Asia all in its sights. Leiweke says that “there has never been a better time to be part of the music business” and predicts that five years from now the whole music industry will be “bigger and better”.
More than half a billion music videos on YouTube are now carrying credits for songwriter, recording label, and music video publisher. This is all part of Google/Alphabet‘s new programme of providing “credits and music discovery information” not only to premium music videos but even to amateur-made, fan-uploaded content that features music tracks. In response to the new program Luke Hood, AEI Group Director and founder of UKF, said, “It’s great to see YouTube continuing to drive awareness of artists, songwriters and labels throughout the platform.”
150 million is the number of plays that Childish Gambino’s song “This Is America” got on YouTube alone. It also got 36 million streamed plays on Spotify in only its first week after being released. This was all because of the power of video, which the music industry seems to be rediscovering. The name of the game now is “accessibility”, according to Cooking Vinyl’s Rachel Stoewer, writing on this very blog. Music lovers want to be able to access their music just about anywhere and in any possible format—including music videos, which are predicted to soon become more available for more music tracks than they’ve ever been before.
72 percent of vinyl recordings bought in the UK are purchased by “superfans“, says the UK’s Entertainment Retailers Association (ERA). ERA’s survey data say that there are approximately 157,000 superfans just for vinyl LPs, and they spend £62.9 million a year to acquire them. For CDs, there are 292,000 superfans each spending more than £400 per year for their preferred spinning discs. ERA tell us that superfans are the true backbone of the music industry in the UK.
50 million Apple Music listeners are now said to exist, up from 40 million only about one month ago. Apple arrives at the new number by counting both subscribers and those listeners who are still enjoying a no-cost trial run of Apple Music to see if they’d like to subscribe. However, by this accounting for both paying listeners and trial listeners, Apple Music has really only added two million new listeners since its April figure was declared.
Tim Leiweke looks like he’s onto something…
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