Read Sir Lucian Grainge’s 2025 memo to Universal Music Group staff: ‘Streaming 2.0 will represent a new age of innovation, consumer segmentation, geographic expansion, greater consumer value and ARPU growth.’...

He shared on this memo that a digital-only recorded music company will be a much more profitable one after one-off restructuring costs. It will have lower revenue and higher margins. Its revenue will be very stable and grow with the overall digital music market growth. It will be a much more valuable company with its revenue base solidly coming fro... See more

The music streaming industry is at a critical juncture . While revenues are at an all-time high, driven by 800 million premium subscribers and a global market worth c. $22 billion, market developments threaten to create and entrench a two-tier system that disadvantages independent music stakeholders. This report evaluates industry changes through a... See more

This is reflective of a broader trend—artists want direct ownership over the relationship with their fans, and to be compensated based on how these fans interact with their music. Case in point: SoundCloud’s recent foray into ‘fan-centric’ payouts, Deezer’s continued experimentation with user-centric payout models, and the ongoing parliamentary inq... See more

Now streaming is still the most important digital channel by far, but you're starting to see these new things emerge. So for an artist, there is a lot more complexity to distributing your product now.