Oldies on TVs
April 23, 2021

Netflix is stalling without new program, music is thriving on old hits

TV needs new content in order to grow, while music, on the contrary, thrives on catalog music, MBW points out the examples of Netflix and music consumption in the US in lockdown. In Q1 2020, Netflix added nearly 16 million global paid subscribers quarter-on-quarter, whereas in Q1 2021, the platform gained just 4 million – 2 million lower than its own forecast. Music, on the other hand, was thriving on catalog music (records released 18 months or more prior to the time of listening) - it claimed more than two thirds (68%) of the US recorded music market (in sales-equivalent terms) in the first three months of this year. Catalog’s total share of US sales-equivalent music consumption in 2020 stood at 63.3%, up from 62.8% in 2019.