In its year-end report, the Recording Industry Association of America (RIAA) stated that, in the U.S., recorded music revenues grew 9.2 percent to $12.2 billion at estimated retail value, the fifth consecutive year of growth. Paid subscription services, ad-supported on-demand platforms and digital radio added $10.1 billion in revenue, a 13.4 percent jump. Paid subscriptions to on-demand services such as Apple Music and Spotify represented the majority of recorded music revenue, growing 14.6 percent to $7 billion in 2020. Continue reading Streaming Now Makes Up 83 Percent of Total Music Revenue

YouTube debuted plans to streamline its service by consolidating artists’ channels. In doing so, it will combine separate channels for live albums, music videos, live performances, single songs and complete albums to a single site. Among YouTube’s many music partners, the new plan will especially impact Vevo channels where Official Artist Channels, marked with a musical note, will be the first thing a user sees in search. Channels can still be accessed with YouTube’s advanced channel filter in search. Continue reading YouTube Introduces Plan to Unify Artists’ Disparate Channels

YouTube’s anticipated premium music service will likely cost $10 per month and be called “YouTube Music Key,” although the Google-owned company has yet to confirm. YouTube is already one of the biggest sources for free online music, but since it requires video, it has not taken the place of services such as Beats Music, Rdio or Spotify. The planned premium music service could change that by making the audio easier to access on mobile devices and providing an offline way to hear songs. Continue reading YouTube Music Key: Google’s Upcoming Subscription Service

Amazon Instant Video offers more than 150,000 titles for purchase or rental, 40,000 movies and TV episodes for streaming, and now YouTube-like Video Shorts. The new category includes music videos, movie and game trailers, live performances, beauty tutorials, how-to videos and more. The short-form video category also adds YouTube to Amazon’s list of competitors, which already includes Netflix and iTunes. Currently, the service includes hundreds of thousands of videos.
 Continue reading Amazon Instant Video Offers Video Shorts to Rival YouTube