Tucked away in MIDIA's market share analysis of the major music streaming service is a breakdown of the different audiences each serves—YouTube resonates with Gen Z and younger Millennials, Amazon with older audiences, Deezer in emerging markets, while Apple and Spotify battle it out for the mainstream.
What is particularly interesting about the state of the global market now compared to a couple of years ago is that we are starting to see some genuine segmentation taking place, which is a real achievement given that most of the services have to operate with the same catalogue and pricing
SoundExchange estimates that U.S. creators are globally losing out on roughly $330 million in royalties every year, particularly with respect to royalties for traditional broadcasts, public performances and some digital uses.
The pivot to online virtual experiences is likely to result in some valuable innovation. The pandemic has already prompted companies to think creatively about how to re-imagine live events for an audience stuck at home.