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Record Labels Are Earning $150 A Second From Streaming Services Spotify and Apple Music

Universal, Sony and Warner’s record labels turned over more than $1bn from streaming in the first quarter of this year – generating nearly $150 from the likes of Spotify and Apple Music every single second.

Like, literally – chuck in some extra waffle between parenthesis here to postpone your arrival at the next full stop – and they’ve already earned $2,000+ just in the time it’s taken you to read the past two sentences.

According to MBW analysis, the trio of companies’ recorded music divisions cumulatively generated $1.13bn from streaming in the three months to end of March.

(If you were wondering, this jointly works out at around $12.5m per day and $523,000 per hour.)

Universal Music Group claimed a 44% market share of this money, thanks to the €467m ($498m) it earned from streaming in the period.

As a result, UMG enjoyed its biggest Q1 in 15 years in the quarter, with streaming contributing 46% of total revenues.

(Omit licensing and merchandise cash – creating a fair fight between physical sales, digital sales and streaming – and streaming claimed 55% of UMG’s recorded music money in Q1, with physical on 27% and download on 18%.)

Sony Music turned over 37.79bn Yen ($332m) in streaming revenues in calendar Q1 2017, grabbing a major label market share of 29%.

And Warner punched above its weight with $300m in streaming cash – representing 27% of the total pie.