The three major labels raked in US$1.13bn from streaming in the first quarter of 2017 – with Universal Music Group posting its strongest earnings since 2002.
Music Business Worldwide (great, authoritative name, don’t you think?) did some hefty division and worked out that this amounts to $150 that comes to the three majors each second, with Universal taking 44% of this. This is US$523,000 per hour, or US$12.5M per day.
The first quarter streaming revenues(for the majors only) have risen by 37% since 2016. MBW worked out that overall earnings from streaming — taking into account the indies, which make up a 24.4% market share, globally — sits at roughly US$1.5bn for the first quarter.
Impressive figures, even if Spotify’s Troy Carter admits artists aren’t seeing enough of this money.