Streaming service libraries have up to 50 million songs, but…
We’re approaching the point where every song ever recorded by the human race is available on streaming music service. Adoption of streaming by consumers continues at breakneck speed. And record labels are back in the black thanks to thanks to revenues from streaming.
However…
The top 10% of songs account for 99.2% percent of streams — all of them, basically. Just as wild, just 1000 songs account for 122 billion listens— fully one-third of all streams.
In other words, we have more people than ever listening to music, but they’re listening to fewer songs.
THE YEAR IN CHART TRICKS, SURPRISES & SHENANIGANS
(can’t wait for Bebe Rexha featuring 6ix9ine in 2018) https://t.co/YBv3ZbwFbQ
— Joe Coscarelli (@joecoscarelli) December 27, 2017
Why is this happening? This article at Elixglobal.com examines the phenomenon.
Streaming, unsurprisingly, is driving this surge. Global streams increased by 50% in the last year alone, rising to 377 billion streams.
All kinds of record-setting stats can be found in analytics company Buzzangle Music’s annual report. It’s jaw-dropping.
There were twice as many streams on an average day in 2017 as there were total song downloads in the entire year.
And as we know, hip-hop took over the charts in 2017. The relationship with digital platforms and rap’s rise is kind of a chicken-and-egg scenario, but the correlation is vivid and apparent. With T Swift pivoting to rap rhythms and Bodak Yellow topping Pitchfork’s year end list, Kendrick’s “HUMBLE” emerging as the most streamed audio and Drake crowned as the most streamed artist, it feels like the genre is catapulting into pole position with quite a bit of momentum.
But, in the timeless words of Bad Boy, mo’ money, mo’ problems.
