Universal and Sony turn over more than $500k from streaming, every hour
According to a report published by "Music Business Worldwide", Sony and Universal are actually turning over more than $500.000 every hour from streaming.
The figures say that the world’s two biggest music rights companies saw $2.38bn coming their way in the first half of 2018 from Spotify, Apple Music, YouTube, Amazon Music, Pandora et al. This $2.38bn combined haul in H1 2018 was worth approximately $92m a week, $13m a day and $550,000 an hour for the two combined companies.
But there's more. According to MBW, indeed, the two majors combining their overall combined recorded music revenues (across all formats, streaming included) turned over $4.5bn in H1 2018.That was worth approximately $173m a week, $25m a day and… oh wow… just over a million dollars every hour.