The official Knotch blog.
The Internet Radio Boom
The internet radio wars have been going on for years. Some players are still at the top, some have folded, and new ones seems to be joining the fold every year. Our data from Knotch shows that most users both use and are in favour of internet radio.
Over the next couple of weeks we’ll be looking into the different services and comparing their numbers with the sentiment data collected on Knotch. However, before we dive into that here’s a primer on the numbers over the last few years to help you understand just how big of an industry internet radio has become.
According to a study done by Edison Research and Triton Digital earlier in 2014 over half of the U.S. under 50 listens to online radio every month, with 66% of people ages 18-34 tuning in. Streaming music services are continuing to grow. Last year, streaming music revenue grew 39% in the U.S. The Recording Industry Association of America (RIAA) and it’s overall share in the industry has steadily climbed over the last 5 years.
Both vinyl and CD sales continue to fall as they dropped another 12.3% last year, but so did downloads, dropping 1%. This is starting to show the shift in ownership period as more and more people are moving towards on-demand services like Spotify in lieu of owning the actual music. The RIAA estimated that on-demand subscriptions nearly doubled from 2012-13 from 3.4 million to 6.1.
Streaming services counts for over $1.4 billion in revenue in 2013. $590.4 million in royalties was paid out from various services like Pandora to artists, songwriters, and rightsholders last year up 27.8%. $220 million came from ads on free services such as YouTube, Pandora, and Spotify, which was 28.7% increase. Lastly, the biggest amount was the $628.1 million came from subscriptions such as Spotify Premium or Pandora One. This was where the gigantic increase happened. Subscription revenue skyrocketed 57% from 2012.
The space is still growing and over the next few weeks we’ll take a look at how some of the biggest in the space are fairing in comparison to one another.
The Opportunity of a Life Time
Our super smooth, freshly funded startup, Knotch, is looking for a replica of our CEO.
You must love small bags of peanuts and crying children as there’s a good chance that you’ll be flying around quite a bit. A lot of the time you will be visiting New York, this small city you may have heard of. Apparently it never sleeps, which is good because neither will you.
When you’re not meeting with some of the coolest and biggest brands, celebrities, entrepreneurs, creative agencies and publishers in the world, you’ll be spending your time practicing your sales pitch in front of a hotel mirror saying buzz-words like: ‘disrupt’ ‘use case,’ ‘viral’ and ‘internet’. But in all seriousness, if you have to use those words to show people our (and now your) dream, then we won’t hold it against you. Because in the end, we don’t want you to just close a sale, we want you to open a relationship. We want the energy that you bring to every meeting, coffee, rendezvous (whatever you want to call it, this is your show) to be transferred to whoever you meet. We want them to feel as part of the Knotch Revolution as you do. And with the incredible team that you’ll have behind you, achieving the goals that you set out for yourself will be as easy as 3.14159.
In fact, we’re going to make it even EASIER for you, we’re going to give you some starting points that you can take into every conversation, so you can start practicing right now:
“We are revolutionizing how emotion is expressed, captured and analyzed online.”
“We are at the forefront of innovation on capturing explicit sentiment and interest data”
“We are willing to dress up in cat outfits as long as you are willing to sign the contract right meow.”
(just checking to see if you’re still with us, and if you have a sense of humor. Especially cat humor. Cat humor is a mandatory requirement.)
Some other super-exciting-fun-things that you’ll be doing is working closely with our CEO. You’ll get to take her breath away with your pricing model ideas, dazzle her with market strategies & leave her speechless with your competitive analyses. We know “working closely with our CEO” usually sounds like a bore and a bit of a deal breaker, but in fact, she’s a lot of fun.
Now, if your heart is beating a little faster than it was 2 minutes ago and you can’t help but smile because you feel like this was written specifically for you, then we want you to keep smiling, maybe even do a little dance, or high five a stranger on the street, because it was written for you, and we would love to get to know you.
Assuming you have a college degree, at least 2 years of work experience, love data and can figure out how to make a pricing model, maybe run a regression or two and have heard of Facebook, email us at email@example.com !!
Happy Fourth of July!
And now a firework montage featuring Broadcast’s “Chord Simple”.
Happy Canada Day!
Happy Canada Day from all of us here at Knotch!