Co-Founder at Immensity - AI-Powered Marketing Intelligence For The Music Industry
Luminate's 2024 Midyear Report is out, and I love seeing this slide. In short, the opportunity for independently distributed artists to gain large streaming volumes is growing - Independent artists with 1M-10M streams YTD - ⬆ 0.6 pts Independent artists with 10M-50M streams YTD - ⬆ 2.3 pts (now almost 40% of artists in this tier!) Independent artists with 50M-100M streams YTD - ⬆ 1.8 pts Independent artists with 100M-500M streams YTD - ⬆ 1.4 pts Independent artists with 500M+ streams YTD - ⬆ 2.7 pts With more competition from independently distributed artists, and those indies actually creating more sustainable revenue streams for themselves, I think we're going to see positive effects on not only the industry but on art as a whole. Which is especially important given we've reached a point where I think we need to support, protect, and value human artistry more than ever. And with all of this, comes even more of a need for artists and the teams around them to gain a better understanding into how they can drive this consumption, which is a good reminder on why we're doing what we do at Immensity.ai Kudos to Jaime Marconette and the whole Luminate team for yet another amazing report!! #musicindustry #musicstreaming
Experienced manager and leader. Strong communicator and unflinching advocate. Currently studying Political Science and Public Policy at UConn.
6moKeep crushing it Nick & team. 🙌