One bright spot in an otherwise gloomy outlook for 2020 was that digital streaming surged during lockdown and CISAC reports that collections are forecasted to grow by as much as 15% this year and will help mitigate collections declines elsewhere.
After a rough first fiscal quarter, Sony Music saw its recorded music division post an 11% year-over-year revenue boost — a record $1.16 billion — driven by a 19% surge in streaming (in dollars). Streaming brought in $742.3 million for the quarter.
In the ‘70s, a whopping 44% of the songs that reached No. 1 on the Billboard Hot 100 were written by just one writer. The percentage declined just a bit in the ‘80s, to 42%, but then dove to 24% in the ‘90s, 6% in the ‘00s and 4% in the ‘10s. Not one song written by just one writer has reached No. 1 so far in the 2020s.