April 23, 2018
Streaming approaches half of all music industry revenues
It might not be anywhere as near as data intensive as video, but the growing influence of music streaming is another part of the network congestion question which needs to be factored in.
During the days of yesteryear, queues would form around the corner for the latest release of the next chart topper, but gone are those days. Those of more advanced years might look badly nostalgically about the anticipation of getting their hands on the latest Beatles banger (Ask Scott, Ray or Iain for more details), but now gratification is all about a simple click on the mouse.
Music is an aspect of the digital economy which is rarely discussed from a telco perspective, but it will start to have an impact before too long. Video is of course the big headache when it comes to traffic management and network congestion, but there are so many more moving cogs which collectively will have an impact; that is important to remember about them every now and then.
According to findings from MIDiA Research, music streaming is fuelling growth in the $17.4 billion global music industry, with a 39% year-on-year uplift in revenues to now represent 43% of the total revenues across the industry. An increase in revenues is the most obvious way to measure usage in the industry, but when popular streaming services like Spotify offer ‘all you can eat’ music, revenues do not perhaps tell the entire story.