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Friday Jul 16, 2021
Friday Jul 16, 2021
In 2020, media and entertainment revenue globally dropped 3.8% as the pandemic led to an overall $81 billion drop, says a new report published by PricewaterhouseCoopers. On the other hand, the company predicts that the overall industry is projected to bounce back this year and continue growing, with a 3.5% compound annual growth rate from 2019-2025.
According to MRC Data‘s new mid-year report, H1 2021 saw catalog music’s share of total album consumption in the US rise to 66.4%, up from 63.9% in H1 2020. Conversely, the percentage of total album consumption claimed by new releases was just 33.6%, down from 36.1% in H1 2020.
YouTube Shorts is now expanding to all the regions where YouTube main is currently available. That will put it live in more than 100 countries worldwide. The TikTok competitor will be in beta as it plans to add more convenient features and increased monetization for creators.
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#EntertainmentandMedia #MusicIndustryNews #ExplorationWeekly #USmusic #YouTubeShorts
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