Photo edited by Marco Rens
The International Federation of the Phonographic Industry (IFPI) publishes its global music report annually. In its 2023 study, publicly posted earlier this year, the IFPI revealed that streaming was the most lucrative segment of the music business, with a market share of 67.3%. To read the complete report, click here.
The music industry has been profitable since 2015, mainly due to streaming platforms such as Spotify, Apple Music, Deezer, and Amazon Music. This economic success followed a long and chaotic phase from 2001 to 2014, during which a drastic decrease in physical formats (CD) sales and accelerated mergers among major record companies happened.
The recording industry has regained its pre-crisis level since 2021.
The apparent and current success of the music business comes at the expense of the recording artists, songwriters and rights holders.
Streaming has given a second life to 1970s and 1980s classics.
As the leading streaming platform, Spotify (approximately one-third of the global streaming market) publishes the Top 10 most-streamed songs per artist. When it comes to Luv', here are the numbers of streams for their 10 most popular tracks:
Let's do the math. Given that Spotify represents a third of the streaming market, here is, by extension, an approximate total number of streams for the Top 10 songs by Luv':
You're the Greatest Lover (July 1978): ≈ 24 million streams
Trojan Horse (November 1978): ≈ 8 million streams
Casanova (April 1979): ≈ 7 million streams
U.O.Me (February 1978): ≈ 5 million streams
My Number One (November 1980): ≈ 3 million streams
Trojan Horse (Kav Verhouzer Remix - February 2022): ≈ 3 million streams
Ooh, Yes I Do (November 1979): ≈ 2 million streams
Eeny Meeny Miny Moe (August 1979): ≈ 2 million streams
Ann-Maria (February 1980): ≈ 1.7 million streams
Tingalingaling (July 1981): ≈ 0.6 million streams
Here are, by comparison, some figures related to Luv's singles' physical sales long before streaming appeared:
Total Sales:
🇳🇱/🇧🇪 150.000 copies in the Netherlands and Belgium
You're The Greatest Lover
Certifications:
🇳🇱 Netherlands:
Gold single - 100.000 certified copies - November 1978
Platinum single - 150.000 certified copies - March 1979
🇩🇪 Germany:
Gold single - 500.000 certified copies - March 1979
Total Sales:
🇩🇪 Germany: 650.000 copies (as of December 1979)
🇫🇷 France: 67.000 copies (as of March 1979)
Total sales: 1 million copies worldwide
Trojan Horse
Certifications:
🇳🇱 Netherlands:
Gold single - 100.000 certified copies - May 1979
Platinum single - 200.000 certified copies - May 1979
🇧🇪 Belgium:
Gold single - 100.000 certified copies - 1979
🇦🇹 Austria:
Gold single - 50.000 certified copies - May 1979
Total Sales:
🇩🇪 Germany: 480.000 copies (as of December 1979)
🇫🇷 France: 85.526 copies (as of July 1979)
Total sales: 1 million copies worldwide
Casanova
Total Sales:
🇩🇪 Germany: 300.000 copies (as of December 1979)
Ooh, Yes I Do
Certification:
🇲🇽 Mexico:
Si, Que Si (Ooh, Yes I Do): Gold single - May 1980
Total Sales:
🇫🇷 France: 227.002 copies (as of July 1980)
Photo edited by Marco Rens
However, despite these impressive streaming figures, it doesn't mean that recording artists and rights holders are making a lot of money, given that, on average, 1 million streams on Spotify only generate $4,000 to $7,000. This ridiculous amount is split between the streaming platform and the rights holders (songwriters, labels, publishers and recording artists)
That's why bands and singers prefer to tour and sign lucrative deals with brands on social media, which generate better revenues.
Source: Spotify, IFPI, SoundCamp, Xposure music...
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