Independent distributor TuneCore has reported that its members’ revenues in the second quarter of the year grew by 24% to $33m – compared to the same period 2015.
Streaming was absolutely the key factor here, growing by 82%. While not breaking down share by service, it reported that Tidal had the sharpest growth in the period (up 157%), followed by Amazon Music (112%) and then Spotify (89%). Streaming income was also significantly up in key TuneCore markets such as the UK (97% increase), Australia (124%) Germany (108%) and India (112%).The company added that gross revenue from YouTube, on a sound recording basis, for TuneCore artists was up 110% in the quarter. When Music Ally spoke to Scott Ackerman, TuneCore’s CEO, back in June, he argued against the idea of YouTube and the “value gap” that the RIAA and IFPI are pushing. “There is money out there on YouTube,” he said. “It’s almost like found money. That is how [the artists] are looking at it.” In its latest numbers, India was singled out as the fastest growing emerging market (with consumer growth up 195%). In regional terms, South America was up 37%, Africa grew by 55% and Asia saw an increase of 38%. Ackerman told Music Ally in June that China was the market TuneCore was most excited about but was taking its time before entering there (almost certainly as a JV with a local partner).