Music consumption in the US rose by 9.9% in the first half of 2017 as per an analysis from BuzzAngle. As per its Mid Year 2017 report, the key trends include a 58.5% increase in audio streams, 29.5% growth in ‘song consumption’ and a 13.9% decline in album sales.
Audio streams reached $179.8bn in the first half of 2017. Subscription streams represented 78.6% of the subscriptions streams, up from 73.6% in the first half of 2016. Total on-demand streams a week are about $10.8 bn in the US.
Another interesting angle highlighted in BuzzAngle’s report includes the ‘value gap’ debate about YouTube and safe harbour. On-demand audio streams increased by 58.5% to $179.8bn and on-demand video streams for music only grew by 6.1% to $101.5bn in the first half of 2017. There were almost $40bn more subscription on-demand audio streams than on-demand video streams in that period.
Spotify and Apple Music and other streaming subscriptions jumped up by more than 69% in the US in the first half of 2017 to $141.3bn outnumbering the number of online music video streams in the same period.
US-based music streams on online video services like YouTube grew by 6.1% to $101.5bn in H1 2017. It was $39.8bn behind the total plays of on-demand subscription audio platforms. The mid-year increase in US subscription streams rose by 69.3%.
Ad-supported audio services hosted $38.5bn on-demand streams in H1 2017 which is a 28.4% increase year-on-year. Ad-funded and subscription audio platforms generated $179.8bn on-demand streams in the period from Jan-June which is an increase of 58.5% in the same period of 2016.
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