Music Industry News 2018|
by Alex Cosper
RIAA Reports Music Revenue Uptick Due to Streaming Growth
The music industry enjoyed double-digit growth for the second year in a row with its most significant annual growth since 1994. The 16.5 percent increase from 2016 to 2017 to $8.72 billion was driven by the growth of online streaming. Revenue from streaming services was up 43 percent to $5.66 billion and accounted for 65 percent of total music revenue in the United States. The bulk of streaming income came from paid subscriptions. Spotify's subscriber base grew 55.5 percent from 22.7 to 35.4 million.
Digital downloads fell 25 percent from $1.8 billion to $1.3 billion in revenue. Only two albums in 2017 moved over one million digital or physical units, which were Taylor Swift's Reputation (1.9 million) and Ed Sheeran's Divide (1.1 million).
2018 Grammy Awards Show Features Hillary Clinton
Hillary Clinton made a surprise appearance at the 2018 Grammys on January 28, 2018 to share a spoken word performance. She read a passage from author Michael Wolff's book "Fire and Fury," which is critical of the Trump Administration. It was a pre-recorded clip with Grammy host James Corden.
It was the 60th Grammy Awards presentation, in which Bruno Mars won both "Record Of The Year" and Album Of The Year" for "24K Magic." The pop/R&B artist also won "Song Of The Year" for "That's What I Like," which he co-wrote with a team of others. Alessia Caria won the award for "Best New Artist" while Ed Sheeran won the "Best Pop Solo Performance" award for "Shape Of You." The late Leonard Cohen won "Best Rock Performance" for "You Want It Darker."
Cranberries Singer Dolores O'Riordon Dies at Age 46
Dolores O'Riordan, who sold millions of albums as lead singer of Irish band The Cranberries, died unexpectedly at the age of 46 in London on January 15, 2018. She was in London working on a new recording. She was born September 6, 1971 in Balyybricken, County Limerick, Ireland. O'Riordan joined the band in 1990 and enjoyed hits throughout the nineties such as "Dreams," "Linger" and "Zombie" on the alternative charts. In addition to vocals, she played guitar, bass and keyboards. She released solo albums in 2007 and 2009. She divorced her husband in 2014 and is survived by three children.
2018 Rock and Roll Hall of Fame Inductees
The recording acts that will be inducted into the Rock and Roll Hall of Fame in Cleveland on April 14 will be: Bon Jovi, The Cars, Dire Straits, The Moody Blues, Nina Simone and Sister Rosetta Tharpe. The ceremony will be broadcast on HBO and SiriusXM.
Sgt Pepper Was #1 Selling Vinyl Album of 2017
The Beatles celebrated their 50th anniversary of the release of Sgt. Pepper's Lonely Hearts Club Band in 2017 with a repackaging edition featuring additional tracks. The physical album was a top seller the week of its release. The vinyl version of the album ended up being the year's top vinyl seller, moving 72,000 units, according to Billboard. Abbey Road was the second best-selling vinyl album of 2017, selling 66,000 units.
Other top selling vinyl albums of the year included catalog classics such as Bob Marley's Legend, Pink Floyd's Dark Side of the Moon, Prince's Purple Rain and Michael Jackson's Thriller. Overall vinyl sales were up 11% for the year, accounting for 14% of all physical albums sold and 8.5% of total (physical and digital) albums sold.
Rap Surpasses Rock in Streaming but Not Album Sales
A.C. Nielsen reports that in 2017 rap music overtook rock as the most listened to musical genre of all audio listening. Rap, hip hop and r&b gained an edge due to streaming stats, whereas rock as maintained its position as the top selling genre in album sales, accounting for a 35% share.
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