Music industry makes $26bn but wants streaming prices to rise

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Music industry makes $26bn but wants streaming prices to rise
United Kingdom Latest News,United Kingdom Headlines
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Record labels say they want streaming services to charge more, as revenues reach record levels.

The UK's largest streaming service, Spotify, hasn't increased its prices since launching in 2009, with an individual subscription set at £9.99. Most of its competitors maintain a similar pricing structure.

In the meantime, labels are seeking to "monetise other forms of music consumption" by licensing songs to video games like Fortnite and Roblox, and fitness companies like Peloton.Bad Bunny had the highest-grossing tour of 2022 The turnaround is particularly encouraging, said Mr Granite, because "10 years ago [China] was almost entirely lost to piracy".BTS were the biggest band in the world, and the second most-popular act overall

It's the third time Swift has topped the annual worldwide chart since its inception 10 years ago, having previously been number one in 2014 and 2019.

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