https://tedgioia.substack.com/p/is-old-music-killing-new-music
"I had a hunch that old songs were taking over music streaming platforms—but
even I was shocked when I saw the most recent numbers. According to MRC Data,
old songs now represent 70% of the US music market.
Those who make a living from new music—especially that endangered species known
as the working musician—have to look on these figures with fear and trembling.
But the news gets worse.
The new music market is actually shrinking. All the growth in the market is
coming from old songs.
Just consider these facts: the 200 most popular tracks now account for less
than 5% of total streams. It was twice that rate just three years ago. And the
mix of songs actually purchased by consumers is even more tilted to older
music—the current list of most downloaded tracks on iTunes is filled with the
names of bands from the last century, such as
Creedence Clearwater and
The
Police."
Via Esther Schindler.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
