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FYI

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.

Report Shows Majors Earning $800K/Hour From Streaming Services

By External Source

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

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Music Streaming Illustration by Michael M. Santiago/Getty Images

Music Streaming Illustration by Michael M. Santiago/Getty Images

Legal News

LyricFind Sues Rival Musixmatch in Antitrust Suit Over ‘Unprecedented’ Warner Licensing Deal

The lawsuit claims that a "first-of-its-kind" agreement between Musixmatch and Warner Chappell means streamers like Spotify will have "no choice" about where to get lyrics.

LyricFind is suing Musixmatch over allegations that its rival struck an exclusive licensing deal with Warner Music Group (WMG) that’s “unprecedented in the music industry” and is aimed at securing an illegal monopoly for providing lyrics to streamers like Spotify.

In a complaint filed Wednesday (March 6) in San Francisco federal court, the Canadian-founded company LyricFind accuses Musixmatch and private equity owner TPG Global of violating federal antitrust laws by signing the deal with Warner Chappell Music (WCM), the publishing division of WMG, claiming it was designed to crush competition.

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