2020 the highest grossing year in music since 2002- but who are the real winners?

March 27, 2021
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Last year broke all streaming records since records began over a decade ago. Commercial radio play listeners were though the roof across all genres and stations across multiple states and countries. It was the toughest year for many industries, but the music industry had somewhat of a revival. The disastrous effect of the pandemic haltered touring for everyone. Albums were delayed, releases pushed back as the world stood at a standstill. But by the spring a multitude of top charting artists started to release their new projects, the result was an unprecedented increase in streams and online buys that hadn’t been seen since the final glory days of the CD peak of the early 2000s.

With the majority of fans and public stuck at home, time was on the artists side. Allowing for the accumulation of new and old listeners to engage in their product without the need to rush. While the live scene struggled, the streaming scene was on fire. But the unfortunate reality was the majority of revenue was accumulated by the streaming providers and labels with the smallest share being given to the artists.

This has become the new norm for signed and Independent artists of this generation. The future will reveal if streaming will last, but for now the hope for many artists is that the touring industry can start back up again soon, because in this streaming era, live skills pay the bills.

 

 

 

 

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