Music Tectonics Streaming Slowdown. What Slowdown? With Mark Mulligan
Apr 23, 2025
Mark Mulligan, a veteran tech analyst from MIDiA Research, discusses the future of the music industry amidst a slowing growth in streaming revenue. He explores the rise of the global south in subscriber numbers and the complexities of artist rights in a shifting landscape. The conversation dives into innovative subscription models and the looming disruption from AI-generated music. Mulligan also highlights the challenges independent labels face and the evolving relationship between streaming services and artists. It's a fascinating look at how technology shapes music's future.
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Streaming Growth Slowed in 2024
- Streaming revenue growth slowed to 3-4% after adjusting for inflation and expanded rights in 2024.
- Growth varies globally; strong in the global south but weak in the US and UK markets.
Market Share Shifts Are Gradual
- Market share shifts are slow; majors lose share slowly, indies and Sony gain.
- Artist Direct growth slowed due to royalty changes, impacting self-releasing artists' payouts.
Subscriber Growth Outpaces Revenue
- Streaming subscriber growth doubled revenue growth at nearly 12% in 2024.
- 80% of new subscribers come from the global south, driving volume but lowering ARPU due to lower prices.