We’re hardly sticking our necks out when we predict that 2019 will be the fifth consecutive year of growth for global recorded-music revenues, even if the IFPI stats showing it won’t be published until mid-2020.
Figures from national industry bodies, major labels and streaming services alike are pointing towards another year of healthy growth. Now MBW has got its calculator out to estimate what 2019 might mean for those major labels’ revenues. “Our number-crunching shows that total recorded music revenues across the ‘Big Three’ in the first nine months of 2019 hit $10.29bn, significantly up on the $9.26bn they posted in the same period of 2018,” it explained. “Universal, Sony and Warner generated $6.07bn from streaming platforms in the 9M period to end of September, up by over a billion dollars on the $5.0bn they collectively generated from streaming in the same period of 2018 – a 21.4% YoY rise.”
This means there’ll soon be a new milestone for the majors: $22.9m a day in streaming revenues in the third quarter of this year suggests they’ll soon be over $24m a day – more than $1m of streaming revenue an hour for the three majors combined.