For the independent sector, Spotify represents a tenth of YouTube users, but generates 10 times what YouTube pays the company, he said. When it comes to revenue, he compared revenues generated by streaming services such as Spotify, and those generated by platforms such as YouTube. There are a number of companies that are not operating on the same playing field and do not need licences because music is already on their services, said Wheeler. However, getting paid fairly is difficult when all actors are not on an even playing field, he said. Simon Wheeler, director of strategy, Beggars Group, an independent record labels in London and New York, added that if the industry is not paid for their rights, artists cannot be paid either. Jonathan Dworkin, senior vice president, digital strategy & business development at Universal Music Group, said the music industry’s mission is to create value for those who create music.
They take advantage of the safe harbour legislations to protect themselves from negotiating fair licences with right holders, he said. However, active services like YouTube or Dailymotion promote and benefit from a large amount of music. The value gap refers to safe harbour legislations, which were designed “in the young days of internet” to help passive hosting services to protect themselves against unlawful user behaviour, Price explained. Value Gap, Abuse of Safe Harbours, Speakers Say However, two issues remain to be tackled, he said: piracy which is a constant and consistent threat, and the “value gap.” There was over 60 percent growth of on-demand streaming services in 2016, he said. Main platforms include Spotify, Deezers, and Apple music. Streaming generally comes in two options, he said: subscriptions or advertisement-supported audio streams. In the last few years, Price said, there has been a “dramatic” impact from music streaming.Īccording to the report, digital income now accounts for 50 percent of global revenues. It might be modest growth but nonetheless the fastest rate in the last 20 years, he said, after the music industry’s revenue declined by about 40 percent since the turn of the century. He said the numbers for 2016 raise “cautious optimism.” With a global revenue in 2016 of US$15.7 billion, the industry achieved a “modest” growth of 5.9 percent over 2015. International Federation of the Phonographic Industry (IFPI) speakersĭavid Price, director of Insight and Analysis for IFPI, presented the recently launched Global Music Report 2017.
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