Spotify and Apple music overtakes the dominance of YouTube’s music videos. On Tuesday, a study of the first half of this year revealed that Americans for the first time are streaming music on audio services more than through music videos. This clearly shows the shift in the industry.
BuzzAngle Music, an analytics provider, discovered that since the start of 2016, Americans have reached 114 billion audio streaming via music subscription apps like Spotify, Apple music and Tidal. While only 95 billion of music videos were streamed on YouTube, Dailymotion and other sites.
Very interestingly both audio and music video streaming services experienced growth in the first half of the year when compared to the first half of 2015. The results show 23 % of the rise in the music video streaming and on-demand audio streaming rose up to 107.8 percent. Streaming as a whole was up 58.3 percent. Online radio streaming like Pandora is not included in this statistics.
The largest streaming company Spotify said that it had 89 million active users every month throughout the world as of the end of 2015. And among them, 28 million members were paying for subscriptions. So, the rise in the music streaming through subscription apps means more revenue from ads and eventually more money for artists through royalties.
But many artists are not satisfied with Spotify in particular for its pay, and the music industry says that their profits are far less when compared to the video streaming sites. Recently a 25 years old public relations executive, Lauren Higgins when tried to sign-in for Spotify on her iPhone she was shocked as the music service asked her to pay $13 for a month which is $3 more than the gift subscription she gifted her boyfriend.
And when Higgins, tweeted her embarrassment a member of Spotify reacted to tell her that she could get her subscription for $10 if she signed up on the web rather than on Apple device. So, our ignorance costs $3 here. Well, artists should know the how to get connected to their fans by trying every possible method and users should understand the pricing of such subscription apps.