The latest report by the RIAA announced that Latin music recorded revenues in the US last year hit a record high of $886 million, up 35% compared to 2020. This is the sixth consecutive year of double-digit growth in revenue for the music category.
According to the IAB, podcasts and streaming for music and radio reached a total of $4.9 billion in ad revenue during 2021, outpacing streaming video, social media, search, and display advertising growth. Mobile devices accounted for 85% of the category’s total revenue.
Deezer is reportedly trying to go public again after its last attempt fell apart in 2015 on the Paris stock exchange due to difficult “market conditions”. The Wall Street Journal sources say that Deezer is nearing a deal to file a public listing via a SPAC merger.
In this newsletter:
- Latin Music US Recorded Revenue Hits Record $886 Million in 2021: RIAA
- Podcasts and Audio Outpace Streaming Video, Hit $4.9 Billion in Ad Revenue During 2021
- Seven Years After Its IPO Collapsed, Deezer is in Talks to go Public Again - Via a SPAC
- Spotify Greenroom Rebranded to Spotify Live
- Indie Recordings Grew UK Consumption Share Again in 2021
- Deezer Adds In-App Lyrics Translation to Its Service
Now, the details...
Compiled by Heidi Seo
Exploration Weekly - April 15, 2022
Latin Music US Recorded Revenue Hits Record $886 Million in 2021: RIAA
Latin music recorded revenues in the US last year reached $886 million, according to a year-end report released by the RIAA Tuesday (April 12). That’s the highest figure ever for Latin music before adjusting for inflation and marks overall revenue growth of 35% compared to 2020. The 2021 numbers mark the sixth consecutive year of double-digit growth in revenue for Latin music, which is defined as music recorded predominantly in Spanish. Lifted by Latin America’s streaming power and a bigger-than-ever output of recorded material, Latin music has seen consumption multiply worldwide, including in the U.S., where Latin’s share of U.S. music revenues grew from 5.4% in 2020 to 5.9% in 2021. Streaming formats made up the bulk of all Latin music revenues, accounting for 97%.
Podcasts and Audio Outpace Streaming Video, Hit $4.9 Billion in Ad Revenue During 2021
Podcasts and streaming for music and radio have seen the largest growth in ad revenue, hitting a total of $4.9 billion in revenue during 2021, according to a report from the Interactive Advertising Bureau (IAB) released Tuesday. With a nearly 58% year-over-year growth in ad revenue, the digital audio category outpaced streaming video, social media, search and display advertising growth during 2021, the report found. The majority of growth in the digital audio category came from mobile devices, which brought in $4.1 billion in ad revenue and accounted for 85% of the category’s total revenue. But in terms of total dollars, search continued to drive the most revenue for the year at $78.3 billion. Digital video was the third-largest ad revenue driver.
Seven Years After Its IPO Collapsed, Deezer is in Talks to go Public Again - Via a SPAC
Deezer, the rival music streaming service to the likes of Spotify and Apple Music, is reportedly taking another run at going public. The company’s last attempt at a public listing fell apart in 2015. It launched an IPO attempt on the Paris stock exchange in October that year, but slammed the brakes on the process just three days before its deadline, citing difficult “market conditions”. In 2015, according to updated IFPI figures, the global recorded music industry generated $14.7 billion annually, of which just 19% came from streaming. In 2021, the global recorded music industry generated $25.9 billion annually, of which 65% came from streaming. According to Wall Street Journal sources, Deezer is currently nearing a deal to go public via a merger with a Special Purpose Acquisition Company (SPAC).
Spotify Greenroom Rebranded to Spotify Live
Live audio chatroom app Spotify Greenroom is now being rebranded as Spotify Live and incorporated into its main streaming app, the music streaming giant announced Tuesday. First launched in fall 2020, Spotify Live is an app that allows users to participate in group audio conversations with a capacity of up to 1000 people. The app was launched as Greenroom to compete with similar live audio platforms such as Clubhouse and Twitter Spaces. Under this new rebrand, Spotify Live will remain as a standalone app, but its features will be integrated into the main Spotify app.
Indie Recordings Grew UK Consumption Share Again in 2021
Independently released music in the UK enjoyed its fourth consecutive year of growth in terms of consumption share last year, according to record industry trade group BPI, which has published its latest “All About The Music” report. According to those stats, independently released music accounted for 26.9% of UK music consumption last year, up from 25.9% in 2020, and an increase from 22.1% in 2017. When it comes to album sales, the indie sector’s market share is higher and also increasing, 34.2% in 2021 compared to 30.4% in 2019 – and even more so when it comes to vinyl releases, where it’s 39.5% compared to 33.9% in 2019.
Deezer Adds In-App Lyrics Translation to Its Service
Deezer is now offering real-time translated lyrics on its platform. It has chosen 10,000 of its most popular English-language tracks and provided translations in French, German, Spanish and Portuguese, accessed through a “With Translation” button. The new feature works on Deezer’s web, desktop and mobile apps. While the company didn’t name the partner in its announcement, a quick scoot on the service reveals a “license and authorization given by LyricFind” credit on lyrics – and since that company has been a longtime advocate of lyric translations, its involvement would not be a surprise.
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