A Message from our CEO
This month, I’m reading new research from Professor Larry Miller that explores the impact of streaming on the music industry. Professor Miller cofounded Musonomics and is the director of the Music Business program at NYU Steinhardt. He released a fascinating report—How Streaming Has Impacted the Value of Music—that examines how streaming attracts investment in music, has made the music industry more resilient, and has increased the long-term earning potential of music.
While many existing data points and past research efforts have underscored the importance of streaming in supporting music industry revenues, Professor Miller’s research is the first attempt (we know of) to provide a specific answer about streaming’s impact on the rise in what investors now pay to buy catalogs of songs and recordings. In doing so, he found that streaming contributes the most royalties over the longest period of time, at the slimmest operating margins. You can find the report here and more of my thoughts on its findings here.
Earlier this fall, DiMA and its members were active in celebrating Hispanic Heritage Month. We released our own new report—The 2022 Latin Music Listener—which utilized insights from new survey data. The report found 89% of Latin Music streamers appreciate platforms’ recommendations for new artists or songs, introducing a wider variety of music to listeners. We also put together our own playlist of incredible Latin music to listen to on your favorite streaming service!
As the days grow shorter and colder, keep an eye out for more news from us as we continue our efforts to deepen the public understanding of streaming’s impact, as well as the highlight some of the impactful streaming innovations of 2022.
– Garrett Levin
CEO, Digital Media Association
@garrettlevin | @digitalmediausa
