Are you a true music aficionado?
Do you know your rock 'n' roll history, classical composers, and pop sensations like the back of your hand? How about your music business knowledge?
The truth is we're all about empowering you to have a successful music career, and in order to do that, we want to provide you as much knowledge as we can!
The problem, information overload is real, and let's face it... learning is not always fun, especially when the information never seems to end...
We always try to deliver you facts in fun and exciting ways, and this blog is no different.
We're going to be asking you 10 questions to put your music knowledge to the test, so get ready to challenge yourself and discover intriguing facts about the world of music (answers at the end).
Let's get into it...
1. According to Music Business Worldwide, how many songs are uploaded to Spotify and other digital streaming platforms every single day?
2. According to Digital Music News, how much money does it take to break an artist?
3. According to music business consultant, Moses Avalon, what success rate do major label records have?
4. According to Rolling Stone Magazine, what percent of the money in music do musicians get?
5. According to Digital Music News, how much money is there in unclaimed royalties?
6. According to Music Ally, what percent of streams do the top 10% of artists on Spotify account for?
7. According to The Guardian, what percent of music available online is downloaded illegally?
8 - According to Forbes, what is the most popular music streaming platform?
9 - According to music business consultant Moses Avalon, what success rate do major record labels have?
10 - According to Digital Music News, what percentage of the global music revenue do record labels account for?
ANSWERS: 1 - 100,000 songs are uploaded every day to Spotify & and other digital streaming platforms.
2 - Answer: It takes upwards of $2 million to break an artist.
3 - Major labels have a success rate of up to about one percent.
4 - Musicians receive just between 12% and 20% of total music revenue.
5 - There is around $2.5 billion in unclaimed royalties, known as the "Black Box".
6 - The top 10% of artists on Spotify account for 99.4% of the total streams on the platform.
7 - 95% of music available online is downloaded illegally.
8 - YouTube is the most popular music streaming platform.
9 - Major labels have a success rate of about 1%.
10 - Record labels account for 70% of the global music revenue.