‘Tis The Season for Christmas Music, and Profits
As the holiday approaches, the sounds of Christmas music intensify. Explore how Christmas music can be a big moneymaker for artists, songwriters, performers, and live music venues and promoters worldwide.
As the calendar races toward December 25, you will likely hear Christmas music in more places and with more regularity. You may also attend a Christmas concert and see large-scale productions like the Radio City Music Hall Christmas Spectacular or the iHeart Jingle Ball. But rather than just background music to get us in the holiday spirit, Christmas music can be a big moneymaker for artists, songwriters, performers, and live music venues and promoters.
All I Want for Christmas is Money
Undoubtedly, one of the most popular Christmas songs is Mariah Carey’s “All I Want for Christmas Is You.” Estimates annual revenues generated from this song at around $2.5 million annually. Since the song’s release in 1994, it is estimated to have earned $60 million, earning Ms. Carey the moniker “Queen of Christmas.”[1]
The song is also the first and only holiday single to win the Recording Industry Association of America’s Diamond Award for earning over $10 million in US sales and streaming revenue. The song has amassed over a billion streams on Spotify alone.
A Long List of Christmas Classics
Mariah Carey leads a long list of classic Christmas songs earnings hundreds of thousands of dollars each year, which includes:[2]
- Paul McCartney’s Wonderful Christmastime ($315,000 estimated annual earnings)
- Wham!’s Last Christmas ($365,000)
- Bing Crosby’s White Christmas ($400,000)
- Slade’s Merry Christmas Everybody ($1.2 million)
I’m Streaming of a White Christmas
Christmas music is being supported by streaming activity, particularly in the weeks and days leading up to the holiday. While holiday music accounted for just 1% of streams in early November, that figure jumps to 5% by Thanksgiving and continues to grow before peaking at 22% on Christmas Day.[3]
Christmas songs also become a large part of Spotify playlists, with Mariah Carey’s tune included in 1,522 playlists in 2022, only eclipsed by V’s Christmas Tree, which was in 2,172 playlists.[4]
Stocking Stuffers
Although album sales are down overall, Christmas albums tend to buck the trend. One reason is that people give them as gifts. Thus, while many artists’ albums may only reach a couple hundred thousand copies, a Christmas album can garner over a million.[5]
Live Music
Christmas is also potentially lucrative for live performances. For example, the Radio City Christmas Show brings in over $100 million in revenue.[6] And other high-profile events, like the iHeart Jingle Ball, can be lucrative for live music venues and promoters.
The Gift That Keeps Giving
Rather than just the background to our holiday season, Christmas music can be lucrative for artists, music companies, and streaming platforms. As is played each season, it can become a sort of annual annuity.
Consider MUSQ for Exposure to Christmas Music
The MUSQ Global Music Industry ETF (MUSQ)
The MUSQ Global Music Industry ETF (MUSQ) seeks to provide investment results that, before fees and expenses, correspond to the total return performance of the MUSQ Global Music Industry Index (MUSQIX). The MUSQIX Index is designed to provide exposure to global, publicly traded companies and royalty funds with a core business interest in the global music industry.
For a complete list of MUSQ holdings, please click here.
[1] Farah, Lynn, Maria Carey’s Christmas Millions Revealed: ‘All I Want for Christmas Is You’, Still Tops Music Charts 28 Years After Its Release With Over a Billion Spotify Streams, South China Morning Post, 11/13/22
[2] Bradley, Fay, Which Christmas Songs Make the Most Money, South China Morning Post, 12/21/22
[3] Richter, Felix, Getting Into the Holiday Spirit, One Stream at a Time, Statista, 12/21/22
[4] Leading Christmas Songs on Spotify Worldwide in 2022, by Number of Playlists, Statista, 10/20/23
[5] Wiles, Katherine, What Makes Christmas So Lucrative?, MarketPlace, 12/23/20
[6] Allen, Bob, Radio City Christmas Show Nears $100 Million, VenuesNow, 2/26/20
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