To further my discussion of my previous article on the revenue artist make within streaming, I wanted to look at the whole picture. Where is most of the revenue going if in 2014 global recorded music totaled in the US at $6.9 billion? To break down the consumption of music in the US by genre, although possibly in broad terms, according to a study released by Nielson Music, rock music was twice as popular in 2014 as pop music, accounting for 29% of the industry’s music consumption across album, track purchases, and music streaming.
Forbes magazine also provides us with the top three paid musicians of 2014:
With Dr. Dre’s (Aftermath Entertainment) most recent sale of Beats, the company he cofounded, to Apple for $3 billion, he is listed at number one going home with $620 million this year before taxes. Coming in far second is Beyoncé (Columbia & Sony Music) with $115 million as her most successful year yet. And finally, The Eagles (Asylum) with their longevity in the industry at $100 million.
The Wall Street Journal is reporting that after securing $400 million in fresh funding, Spotify is now worth more than the entire US recorded music industry at $8.4 billion.
Sony leads the record label trio at $4.9 billion but if we look at Live Nation it will not be long when it takes a step ahead of all three. With Live Nation’s monopoly in live music, being that most revenue is from cold hard ticket sales, it would not be surprising that Live Nation takes the lead within a year.