Manonthestreet
Diamond Member
- May 20, 2014
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The new music market is actually shrinking. All the growth in the market is coming from old songs.
Just consider these facts: the 200 most popular tracks now account for less than 5% of total streams. It was twice that rate just three years ago. And the mix of songs actually purchased by consumers is even more tilted to older music—the current list of most downloaded tracks on iTunes is filled with the names of bands from the last century, such as Creedence Clearwater and The Police.
Sound about right? I know I cant name too many new songs. The ones I can are all country.
Just consider these facts: the 200 most popular tracks now account for less than 5% of total streams. It was twice that rate just three years ago. And the mix of songs actually purchased by consumers is even more tilted to older music—the current list of most downloaded tracks on iTunes is filled with the names of bands from the last century, such as Creedence Clearwater and The Police.
Is Old Music Killing New Music?
All the growth in the music business now comes from old songs—with consumption of new music actually shrinking. How did we get here, and is there a way back?
tedgioia.substack.com