Anutr Yossundara | Dreamstime.com

Growth of Music Streaming is 'Staggering!'

Another revelation from the recent Nielsen 2017 Year-End Report...

January 17, 2018

The recent publication of the Nielsen 2017 Year End Music Report is chock full of interesting, useful information and analytics dealing with the public's 'consumption' of music, and it also tracks sales, downloads, and music streaming. The new Nielsen Report has determined that Americans continue to embrace on-line streaming in record numbers, crushing sales of physical and digital albums/tracks in the process. Even though there are a few exceptions, both current and catalog album sales saw huge declines in sales in the past year as music lovers flock to streaming platforms such as Pandora, Spotify, and Amazon. This is the second factor that has played a big part in the consumer's exodus away from traditonal methods of acquiring/enjoying music; the first factor came into play back in 2003 when Apple introduced iTunes, and the ability to download and listen had an immediate impact on the record industry, and it wasn't a positive one. The most visible effect was the financial drain (and subsequent bankruptcies) experienced by many (major) record/music retailers. (Tower Records comes to mind...)The ease of a new and different delivery system for music was also enabled by increasingly improving mobile connectivity and more encompassing data plans for consumers. But it's NOT all 'sunshine and roses' for the Streaming Industry...high licensing and data costs still stand in the way of providers like Spotify and Pandora realizing any profit, a factor that doesn't affect Amazon of Apple, as those companies can absorb the loss of their music platforms because they are able to 'tether' thier customers to their more comprehensive, multi-faceted systems. Rock On! (Stream On?)