They say one year on the Net is like five years in the “real world,” in regards to the music industry, one year sure feels like 15.
When we launched TuneCore half a decade ago (sounds more impressive than five years) we built a system to change the music industry and empower and serve artists. Since then, the industry has changed and evolved: new stores have popped up, others have shut down; more music is being released, bought, streamed and shared as major labels downsize, release less music, consolidate, put themselves up for sale or get taken over by banks. Music sales by unit are up another 1.5% in 2010 (around 1.6 billion units). With the rumored forthcoming “cloud” services from Google, Apple and Amazon and Spotify entering the US, the concept of over a trillion units being streamed or bought per year is no longer fantasy. Over the past 28 months alone, TuneCore Artists have sold over 300 million units generating over $150 million in gross music sales. Most of these TuneCore Artists are also the songwriter, the publishing company, and the performer, earning them over $100 million more in additional revenue from each of these additional income streams (more on the six legal copyrights that drive the music business can be found here).