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We don’t discuss Bruno, however Disney is giving the music enterprise one thing else to speak about: its spectacular new share of the market. As 2022 acquired underway, the soundtrack to Encanto, the Disney movie that was launched over the vacation season, noticed its Lin-Manuel Miranda-penned assortment of songs turn out to be the largest album of the yr to this point within the first quarter stemming from Dec. 31, 2021 via March 31, 2022.
The success of the soundtrack — the primary album of 2022 to cross 1 million equal album models, in line with Luminate, previously MRC Information — has had a tangible impact in the marketplace share rankings for Q1, because the Disney Music Group surged into the highest 10 of total market share, probably the most vital of a number of strikes atop the rankings in comparison with Q1 final yr.
Interscope/Geffen/A&M maintained its spot atop the rankings for the primary quarter of 2022, coming in at 9.76% and heading off a cost from No. 2 Atlantic, which closed the hole with a 9.49% share, up from 9.22% in the identical interval final yr. They’re the clear front-runners to this point this yr, as 11 of the highest 12 labels ceded a minimum of some measure of total market share factors over the identical interval in 2021, whereas a number of different corporations — 300 Leisure, Alamo Information and Disney most notably — surged to huge begins in 2022.
These boosts weren’t sufficient to upend the established order, nevertheless. The identical labels that ranked within the prime 9 in Q1 2021 stay, albeit in a barely totally different order. Republic Information held on to its third-place place at 7.91%, down from the 8.51% it held within the first quarter of 2021, when Morgan Wallen’s Massive Loud/Republic album Harmful: The Double Album dominated the early a part of the yr. (It’s nonetheless the third-biggest album of 2022 to this point, although at barely greater than one-third the 1.4 million equal album models of the identical interval final yr; Republic additionally has 5 of the highest 10 albums this yr thus far.) Columbia Information (which incorporates indie distributor RED) and Warner Information (which incorporates catalog label Rhino, Warner Latin and the majority of Warner Nashville) climbed to fourth and fifth, with market shares of 6.69% (from 6.79%) and 6.06% (from 6.32%), respectively, whereas Capitol Music Group slipped to sixth at 5.91%, down from the 6.98% it garnered within the first quarter of 2021, when it got here in fourth.
RCA (4.92%), Epic (2.44%) and Def Jam (2.22%) retained their spots from Q1 2021 —in seventh, eighth and ninth, respectively — every down very barely percentage-wise. The success of the Disney Music Group’s Encanto soundtrack, which spent eight weeks at No. 1 on the Billboard 200, boosted the label’s market share from 0.49% in Q1 2021 to 1.96% for a similar interval this yr, to spherical out the highest 10. .
Sony Nashville (1.83%), Common Nashville (1.77%) and Harmony (1.71%) maintained their No. 11, 12 and 13 positions from the primary quarter of final yr — with solely Harmony seeing a bump in market share — whereas No. 14 Common Latin (1.42%) and No. 15 Sony Latin (1.23%) every grew in market share and rating.
The labels’ present market share — outlined as audio album consumption releases that got here out up to now 18 months (total contains catalog efficiency) — is the place the massive early strides this yr might be extra clearly seen. Atlantic is available in at No. 1 in present market share, with 10.57% — greater than 1.5 proportion factors larger than Republic (8.93%) and IGA (8.91%) — on the energy of huge albums from Kodak Black, YoungBoy By no means Broke Once more and the October 2021 album Equals from Ed Sheeran. Atlantic additionally benefited from a giant first quarter from 300, which falls below the Atlantic umbrella alongside Elektra (0.81% present market share). 300 racked up a 2.11% present market share in Q1, good for ninth amongst all labels if it had been damaged out by itself, as Gunna’s album DS4EVER got here in behind solely Encanto because the second-biggest album of the yr to this point.
The flip aspect is that IGA and Republic have every dropped greater than 2% in present market share from Q1 final yr, after they had been at 11.25% and 11.22%, respectively, because of the early-2021 success of their very own artists and affiliated labels equivalent to Massive Loud (Republic) and Alamo (IGA), the latter of which shifted from UMG right into a Sony frontline label in the course of final yr. (Republic additionally encompasses Island, Younger Cash and Money Cash, amongst others; IGA contains Verve.) IGA additionally kicked off final yr with the smash debut of Olivia Rodrigo’s Geffen-released single, “drivers license,” which led to her Grammy night time win for finest new artist on April 3. The monitor’s dad or mum album, SOUR, continues to be on this yr’s prime 10 largest albums to this point, as is Juice WRLD’s December posthumous launch Combating Demons.
Columbia’s present market share grew in Q1 over the identical interval final yr, up from 5.56% to five.78%, whereas RCA grew to 4.34% from final yr’s 4.27%, which moved it up from seventh to fifth amongst all labels. Warner Information (4.22%) and Capitol Music Group (4.13%) — the latter of which incorporates indie label distributor Virgin, in addition to Motown/High quality Management, Astralwerks and Blue Be aware — noticed their shares fall from final yr’s 4.70% and 5.98%, respectively. Epic (1.83%) and Def Jam (1.42%) additionally misplaced present market share this quarter in comparison with the primary interval of final yr, when each had been above 2.3%.
Disney made even greater strides in present market share because of Encanto, up from 0.69% in Q1 2021 to 2.59% in Q1 2022, adequate for eighth place amongst all labels to this point this yr. That’s a giant leap for a label that may not have positioned among the many prime 20 for Q1 2021.
Alamo — starting what might be its first full yr below Sony — completed the quarter with a present market share of 1.78%. That’s really down from final yr’s Q1 when it surged to 2.25% below the IGA umbrella on the energy of Lil Durk’s album The Voice, which had had three full months within the market. However with the corporate having simply launched new Billboard 200-topping Lil Durk album 7220 in March, there’s loads of room for that share to develop in Q2. Regardless of the drop, Alamo nonetheless completed tenth in present market share, up one spot from its rating for the primary quarter of 2021, when it was below the Interscope umbrella.
Different notable positive factors in present market share over final yr embrace Sony Latin, which grew from 0.80% in Q1 2021 to a 1.31% share in 2022, and Harmony, which jumped from 0.73% final yr to a 1.16% present share this yr, as huge releases from Rauw Alejandro and Ghost, respectively, helped increase these corporations.
Catalog market share — albums which are older than 18 months — hewed intently to total market share when it comes to rankings, with the highest 9 slots all staying the identical and Interscope taking the highest spot at 10.05%, doubtless buoyed by the cross-catalog increase that got here within the wake of the Tremendous Bowl Halftime Present, which featured a half-dozen artists who’ve launched work on the label via the years.
Among the many three main label teams, Common stored its maintain on the No. 1 spot in total share with 37.32%, although that declined from the 38.5% it maintained in Q1 2021. That drop is because of a 5% loss in present market share, which declined from 38.59% in Q1 2021 — when UMG had distributed the highest eight largest albums of the yr thus far — to 33.58% within the first quarter of this yr. Sony Music held at No. 2 with a slight improve to 25.76% (from 25.67%) whereas Warner Music Group gained some floor at No. 3, coming in at 16.27%, up from 16.17% final yr. Sony’s present market share was up a bit to 24.00% (from 23.21% in Q1 2021) whereas WMG gained over one p.c in present share from final yr, as much as 15.54% from 14.52%. (UMG and Sony each embrace their standalone indie label distributors — Ingrooves and The Orchard, respectively — of their market share totals; Warner doesn’t embrace its related division, ADA.)
However the largest beneficiary from Common’s present market share dip has been the indie label sector, which collectively grew present market share to 26.88%, up from the 23.68% it held in Q1 final yr.
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