Music consumption by streaming is growing fast in the UK, according to a report released last week by the British Phonographic Industry. Listeners in the UK have streamed 1.2 billion tracks this year, and that’s a nearly 100% increase over the 5.4 billion tracks streamed last year, according to BPI.
Musicians in the UK are contributing heavily to the growth — the report also notes that according to data provided by Spotify, UK artists represent 19% of all tracks streamed globally on the popular streaming service. Most popular UK artists are Coldplay, One Direction, Florence + the Machine, Arctic Monkeys, Royal Blood, Lily Allen, and Mumford & Sons. Earlier this year,Ed Sheeran made Spotify history scoring the biggest ever ‘week one’ of album streams in Spotify history, with 23,792,476 streams.
Spotify has also recently announced a profit of £2.5 million for last year, from an £11 million loss the year before. A spokeswoman for Spotify UK said: “The growth seen by Spotify Ltd mirrors the growth of digital recorded music revenues in the UK in 2013, which saw digital revenues account for 50% of total UK record industry trade revenues for the first time, and a 41% increase in streaming revenues on the previous year.”
The rapidly increasing popularity of streaming music services will be the topic of the day at the upcoming RAIN Summit Europe in London on Tuesday November 4th. Hosted by RAIN: Radio and Internet News, RAIN Summits are the premiere educational and networking events for the online audio industry. They are held several times each year in the US and annually in Europe. This is the first RAIN Summit event to take place in London, and it is being held in association with the IAB UK.
The event will feature presentations and panel discussions on all facets of the online audio industry. Featured speakers include Spotify’s Chief Economist Will Page and IAB UK CEO Guy Phillipson. Advertising execs from Havas, OMD, Zenith Optimedia and other agencies will discuss case studies and insights on digital audio’s value proposition for advertisers. A pan European group of industry leaders including representatives from radio groups such as SBS Radioplay, Lagardere, Global Radio and Karnaval will discuss technology and business best practices.
To view the complete agenda and register click here. We hope to see you there!
In case you’ve been living in a cave and have missed it, it’s Advertising Week in New York this week. Yesterday I attended a panel, sponsored by XAPP Media, that featured a discussion of online audio ad campaigns. XAPP Media is a technology company that enables interactive audio ads, and the panel began with CEO Pat Higbie showing the audience how it works.
XAPP’s product is designed to enable today’s ultramobile consumers to respond to audio ads while they are listening to their devices in hands-free, eyes-free mode. These audio consumers are busy – driving, walking, exercising, etc, – and audio ads are a great way to reach them, but getting them to respond to the ads can be a challenge. Enter XAPP technology that makes it possible for them to respond with a voice command. The ad plays, and the consumer can immediately respond by saying “Call now” or “Email me.”
NPR’s Bryan Moffett, VP, Digital Strategy and Ad Ops, spoke enthusiastically about their experience with XAPP’s technology. “It’s the most exciting thing we’ve put in front of marketers since the ipad,” he said. Moffett went on to discuss several campaigns that have used the platform with success, as well as ways that they are using the voice driven interactive feature within content, enabling listeners to launch a new program.
Spotify is doing some initial beta testing of XAPP as well, and VP Brian Benedik mentioned interesting results, without getting very specific with details. Spotify’s mobile listening has increased sharply in the ten months since they stripped the subscription required feature from their mobile app, with half of Spotify’s listening now on mobile devices in the US. Meanwhile, in Latin America Spotify’s mobile audience is 80% of all listening, according to Benedik.
All of the panelists talked about the push to offer innovative opportunities to advertisers. Ad Large Founder Cathy Csukas said there is a thriving marketplace of audio advertisers and they are looking for ways to do digital. She mentioned the importance of lifting advertisers up through programs to generate recall and response.
It was great to see an online audio conversation, talking extensively about execution of campaigns, take the stage during Advertising Week. While it would have been great to have a few more specifics on advertisers and results, the conversation was informative and the explanation of the XAPP platform was very good. A few questions from the audience indicated there were advertisers in the room who found it interesting as well. All good things..