Why Neil Young's Spotify standoff matters to the music industry

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Why Neil Young's Spotify standoff matters to the music industry
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Neil Young pulling his music from Spotify matters more than you'd think, given the popularity of old music. 70% of the music streamed online is older than 18 months.

Neil Young's music from its streaming platform, because the 76-year-old rock icon objected to the company's response to vaccine misinformation.70% of the musicMany of the big new releases of 2021 were dropped because tour dates got COVID-canceled, Matt Yazge, vice president of research business for MRC Data, tells Axios.

61% of U.S. music listeners say that they are interested in discovering new or emerging music artists, Yazge says.partly because more boomers and Gen Xers are using streaming services. But a big driver of this trend is TikTok.A lot of the investment money flowing into the music industry right now is coming from big catalog deals where older artists sell the rights to their classic songs.

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