The way we listen to music has changed and so have we. In 2016, revenues from streaming rose by 60.4% to $7.8 billion worldwide, which means that digital revenue now accounts for 50% of total recorded music revenues. The International Federation of the Phonographic Industry (IFPI) records that there are now more than 100 million users of paid subscriptions to streaming platforms and that the record industry is witnessing growth for the first time in over a decade. Record companies see this change as the start of a new chapter in recorded music. Healthy competition between the market leaders Spotify and Apple Music has been responsible for the overall growth in the market.
Our global network of experts is now focused on spotlighting your music not just on these leading global streaming platforms but also on many of its rivals for example, Amazon. We will push your music by making sure your songs feature on the most listened playlists on each platform. A digital playlist is a group of songs or music that has been chosen by a channel or user, consider it to be the digital version of the songs that a traditional radio station would play throughout the day.
We do this by working with you to identify your target market, its demographic and its location. We consider your sound and explore current artists whose fans are likely to convert into followers of your music. We then use this insight to work with renowned playlist curators and social inﬂuencers across the world to make sure your music is heard globally. Top digital playlists have millions of plays per week and these plays convert directly into revenue.