— but that $20.8 billion forecast was still up by 3% on the amount generated by record labels, globally, in 2019 .
Adds Mulligan: “Streaming is largely resilient to COVID but if a recession kicks in — which looks likely — then a slowdown in subscriber growth could happen too. The most likely scenario for 2020 is that streaming will keep the lights on for the global recorded music business but won’t quite be able to offset the impact of declining traditional revenues.”
But Sony’s update also offers more doom-laden news about the company’s experience of pandemic lockdown thus far. “Ticket, merchandising and video revenues are decreasing, as concerts and other events are being postponed and cancelled in Japan and other areas,” it noted. “Due to a global reduction in advertising spending, revenue from advertising-supported streaming services and revenue from the licensing of music in TV commercials is decreasing.
Now do a story on logic. If you produce and promote music where you knowingly Piss Off half of your possible sales base, please don't wonder why sales are only a percentage of what the music could have done. But you had to send a message, yet still you wonder why... Logic.
Maybe bring back '' music'' and people will buy it .... Music fit to actually listen to is declining fast , some of these ''artists'' need to find jobs that pay the rent .
Only aging hipsters buy records
Got an article for ifidiefirstband yet? That EP is 🔥
MUSIC ISNT TOO GOOD EITHER
The lack of live music is going to be a problem for the industry wallets. Personally I love smaller venue shows and selfishly I miss them dearly but I know they can’t be right now. It’s so sad...
Oh the poor artists.
I'll be buying Neil Young's 'Homegrown' so I'm supporting the music business. We need more music like that being released.
I think it’s good for small artists like me. My fans are overwhelming me with supporting my online store
So is the music, so. . . makes sense.
Truely a Rollercoaster ride, for many including independent record labels, and artist Soundgarden