So far, the streaming music business has seen little meaningful impact from the Covid-19 pandemic. But that's not slowing down the analysis of how the music business or music fans are reacting. And with artist revenue stemming almost solely from streaming with no current tours, there's a healthy re-examination of how streaming can generate higher payments.
Listenership appears to be widening for Classical, Ambient, and Children’s due to COVID-19; and is relatively unaffected for Pop, Country and Dance, but Country seems to be demonstrating the greatest resiliency.
PRS For Music is set to lose a big chunk of its live collections, which reached £39 million in 2018.
We have not seen fundamental changes in the dynamic of the streaming subscription business, which remains strong and healthy.
Streaming revenues grew 11% YoY to $586m, up by $49m on the equivalent figure from calendar Q1 2019 ($537m).
The streaming royalties pool will grow faster if more people start paying for subscriptions, rather than listening for free.