VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
A new report on music streaming in the U.K. suggests the market could double in value over the next five years to £1.6b, according to consultants OC&C, who say that key to the growth is new premium tiers and a variety of entry points.
The U.K.’s streaming market was worth £829m in 2018 and, left as it is, the report predicts that number to reach £1b-£1.1b in 2023—a compound annual growth rate of 5%-7%. Inflation aside, that's a value growth rate of 33%, which is in line with a slowing pattern of growth over the last few years (65.1% in 2016, 41.9% in 2017 and 37.7% in 2018).
However, by targeting committed music fans with super-premium and add-on services and finding ways to tempt current non-subscribers, the report says the market could grow to a range of £1.25b-£1.6b. That's a compound annual growth rate of 12%-18%, and a value growth rate of up to 93% (which is just under the 104% rise in value streaming has experienced in the U.K. from 2016 to 2018).
The Entertainment Retailers’ Association commissioned the report compiled by OC&C, who have expertise advising on subscription models in sectors like mobile telephony, gyms and hotels.
