Report Shows Majors Earning $800K/Hour From Streaming Services
A report by Music Business Worldwide has outlined just how much income major record companies are collecting from streaming.
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A report by Music Business Worldwide has outlined just how much income major record companies are collecting from streaming.
MBW crunched the figures for 2018, and worked out from investor filings from Universal Music Group (UMG) parent Vivendi, Sony Music parent Sony Corp and Warner Music Group, that The Big Three earned US$$6.93 billion from streaming.
Combined, that’s an average of $19 million a day, and just under $800,000 per hour.
Breaking down the figures further, MBW determined that Universal’s streaming revenue grew by 39% to top $3 billion for the first time, Warner was second with a 27.6% jump to $1.83 billion, while Sony had a 22.3% increase to over $2 billion. -- Continue reading the analysis and view the graphs on the MBW website
