As streaming revenue growth slows to 6.2%, the recorded music industry turns to superfans as a key strategy for financial stability. Despite a noted 16.4% rise in expanded rights revenue for labels from merch and branding, physical sales have dropped by 4.8%. Challenges abound in live music, where ticket sales fell while revenues increased, highlighting a strain on the same group of superfans. The concert industry, although enjoying post-Covid recovery in revenue, faces a paradox of increased income against declining ticket sales, which could signify market fatigue among dedicated fans.
With a slowdown in streaming revenue growth to 6.2% in 2024, the recorded music industry is focusing on superfans to sustain profitability.
Record labels enjoyed a 16.4% boost in rights revenue, while physical revenue decreased by 4.8%, indicating an unstable revenue landscape in the industry.
The live music sector is showing concerning signs as ticket sales drop while revenues rise, with the focus on the same superfans being stretched too thin.
Despite a revenue revival in live music post-Covid, the percentage of tickets sold decreased, hinting at a potential market saturation of superfans.
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