Streaming service consumption is growing year on year but who is benefiting the most?
A recent study from Buzz Angle Music shows that 99% of all streaming comes from just 10% of the songs on Spotify which is a staggering figure. In total during 2017, there were 377 billion streams.
There is a big difference between music listeners and music fans and this clearly shows that Spotify is, on the whole, made up of radio listeners, and not music fans.
Music Aficionados are consumers that spend above average time and money with music. They represent just 17% of all consumers but a whopping 61% of all recorded music spending. These consumers shape the fortunes of the music business. – Mark Mulligan – Midia Research
In order for most artists to make money, they need to look far wider than streaming services, at least for their loyal followers who want to support their artist but have fewer and fewer ways to do this. Allowing fans to subscribe to a digital fan club app lets artist connect directly with their fans and generates recurring monthly revenue.
We’re finding that 15% to 30% of Facebook followers are downloading the fan app of their favourite artist and 10% or more are paying 4.99 a month to access premium content produced by the artist.
We’ve built a solid platform for artists and fans and have launched and signed deals with artists, small and large. There’s never been a better time to review your social media and streaming revenue. Talk to us. We can help!