This week Sony Music reported a 39% year-on-year rise in digital streaming revenue to $25 million a week or $3.3 million per day. Universal reports earning just over $4 million per day and Warner Music logs in at about $2 million a day in revenue from audio and video streaming. That totals just shy of $10 million a day being paid by Spotify, Apple, Google, Deezer and others to the 3 dominate music groups.
Assuming that independent music companies* are logging similar revenue, and several stats that we’ve seen show that indies are experiencing in faster growth in streaming revenue, they are earning more than $5 million per day from streaming revenue.
Collectively, the music industry is now earning more that $15 million every 24 hours or almost half a billion $’s per month from music and music video streaming.
I would not assume independent music companies make a comparable amount to their market share in streaming revenue. The negotiation situation between majors and streaming providers (the former hold all the cards, the latter none) and the data that leaked over the last few years (like that Spotify contract some months ago that finally made the upfront fee public) all point to one obvious and unsurprising result: The majors made sure they get more than their appropriate share from the streaming market.