In a recently issued mid-year report, music analytics company Next Big Sounds (NBS) tracked 1.03 trillion music streams from popular streaming services.
1.03 trillion isn’t just astonishing in size. The number is also a measure of the world’s demand for music streaming services. It’s not a perfect measure, but it provides a great deal of insight.
NBS’s tally is global; Spotify, YouTube, Vevo, Pandora, SoundCloud and Rdio are available throughout the world.
With the behemoth industry of music streaming, we now have to question its value starting with the royalties. The royalties depend on the various companies where the talent can earn anywhere from 1 to 35 cents per song. However, that could equate to a staggering $7.2 billion a year for the company.
“The mission here is full transparency in the music industry,” writes Next Big Sound, acquired by Pandora three months ago.