{"id":25343,"date":"2020-08-26T17:00:30","date_gmt":"2020-08-26T17:00:30","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=25343"},"modified":"2020-08-26T15:51:08","modified_gmt":"2020-08-26T15:51:08","slug":"covid-has-hurt-the-major-labels-but-theyre-still-fine","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/covid-has-hurt-the-major-labels-but-theyre-still-fine\/","title":{"rendered":"COVID has hurt the major labels, but they&#8217;re still fine"},"content":{"rendered":"\n<h4 style=\"user-select: auto;\"><span style=\"color: #3366ff; user-select: auto;\" amongst=\"\" the=\"\" ongoing=\"\" victims=\"\" of=\"\" coronavirus=\"\" are=\"\" many=\"\" musicians=\"\" and=\"\" artists,=\"\" major=\"\" labels=\"\" themselves=\"\" however=\"\" cushy=\"\" even=\"\" after=\"\" taking=\"\" a=\"\" hit.<=\"\" span=\"\"><\/span><\/h4>\n\n\n\n<p>The Coronavirus has been devastating for many artists around the world. Gigs and festivals have been cancelled &#8211; a primary source of income for many artists &#8211; some have even had their new releases delayed. However, for many of the huge labels behind them, it&#8217;s no sweat. <\/p>\n\n\n\n<p>The latest figures to come out show that the major labels have seen a drop in revenues this year, in wake of the COVID-19 pandemic. The labels often take a cut of, not just the music sales but, tour revenue, uses of music in films, and more. With high-streets shut down, events cancelled, TV &amp; film production stopped, and people have tightened their purse strings.<\/p>\n\n\n\n<p>This has been a recipe for falling revenue streams across nearly every industry. Music Business Worldwide have reported that the major labels in Q2 of 2020 are earning over $1 million an hour from streaming services alone. That&#8217;s the most recent stat &#8211; after Coronavirus slowdown has been taken into account.<\/p>\n\n\n\n<p>Music Business Worldwide created a simple info-graphic to see how much all 3 of the major labels:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" width=\"648\" height=\"486\" src=\"http:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/08\/Image-1-4-2-648x486-1.jpg\" alt=\"\" class=\"wp-image-25345 lazyload\" data-srcset=\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/08\/Image-1-4-2-648x486-1.jpg 648w, https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/08\/Image-1-4-2-648x486-1-577x433.jpg 577w\" sizes=\"auto\" \/><\/figure>\n\n\n\n<p><strong><a href=\"https:\/\/www.musicbusinessworldwide.com\/stat-of-the-week-the-pandemic-has-hit-the-major-labels-this-year-but-theyre-still-generating-over-1m-per-hour-from-streaming\/\">Check out the original article from Music Business Worldwide for more information and statistics on music revenues in 2020, particularly the impact on the major labels.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":12,"featured_media":25349,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[16709,16708,798,16706,1038,16430,154,4157],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - 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