New Hope For Indies As Streamers Move Beyond Mega-Hits
Tucked inside Buzz Angle's new Music Industry Report 2018 were some stats that should bring a smile to that face of nearly every d.i.y. artist and indie label staffer. Slowly, but very perceptively, consumers are using streaming music services to listen to more than just the mega-hits.
While far from abandoning the hits, the percentage of total plays for each category of hit – Top 50 Top 500, Top 5000 Top 50000 and Top 500,000 – dropped between 1.2% and 4.2% from the year before, as shown in the chart below.
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And with on-demand streams up 42% last year to 534.6 billion streams, every percentage point means billions of streams going to a less well known song and artist.
But the best news for all artists and labels came thanks to 50% growth in streams by paid subscribers. Those 157.4 billion higher paying subscription streams now account for 85% of all on-demand audio, according to the respected music data monitoring service.