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Trade Update: Canada Implements Fair Pay For Radio Play & U.K. Negotiations Begin – grammy.com

One month since many Americans began to live life altogether differently, COVID-19 continues to devastate the music world. From taking the lives of such pillars of its community as John Prine, Hal Willner and Adam Schlesinger, to the financial fallout created from mass cancellation of all tours, festivals and events, music creators have been hit hard and fast by the pandemic. Even the relief plan passed to provide critical aid to music makers has encountered issues, as creators struggle to navigate the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

An Industry Hit Hard

Making matters worse, new data shows that streaming is down, contrary to widespread hopes that more time at home during the era of social distancing would result in a listening boom. Sadly, music streaming was down 7.6 percent for the week of March 13 with digital album sales also down 12.4 percent. Even physical sales took a big hit, dropping 27.6 percent, according to Rolling Stone’s Alpha Data.

On the live event side of the business, Forbes reports over 300 festivals have announced cancellations or postponements, affecting 90 percent of workers in the festival industry. To put the festival falloff in perspective, Coachella, which boasted a $700 million economic impact in 2016, was supposed to
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