Why music businesses need to look beyond popularity to understand where commercial value is actually created
Think of a song that seems to be everywhere.
You hear it at weddings, in restaurants, at shopping malls and at live events. It appears in social media videos. People recognise it within seconds, sing along and dance to it.
Clearly, the song has connected with people.
But here’s something worth thinking about. How much of that popularity is actually translating into revenue for the people and businesses behind it?
It’s not always an easy question to answer.
A song can be heard in many places and used in different ways. Yet the people managing its rights may not have a complete picture of where that activity is happening or what it is worth commercially.
And even when money is being generated, there is still the question of whether it is being identified, collected and distributed to the right people.
A song’s popularity tells us how far it has travelled. It doesn’t necessarily tell us how much money it is making, or who is earning from it.
For music businesses, the interesting part is what happens between the two.
Being Heard Is Not the Same as Being Monetised
Think about the different ways we encounter music.
Someone streams a song on a digital platform. A DJ plays it at a wedding. A restaurant uses it as background music. A brand licenses it for an advertisement. A creator includes it in a short-form video.
To the listener, it’s the same song.
But commercially, these are very different situations.
Different rights may be involved. Different licensing arrangements apply. Some uses generate revenue through established platforms or agreements. Others may create public performance or other royalty entitlements, depending on the circumstances.
And not every use necessarily generates a separate payment.
This is why a million streams, a million views and a million people hearing a song in public places cannot be treated as commercially equivalent.
The number may be the same. What it means for the business can be completely different.
Popularity is a useful indication of demand. But to understand the commercial value behind it, we need to know where the music is being used and under what arrangements.
The Different Commercial Lives of a Song
Consider a song released ten years ago.
Its streaming numbers may no longer be impressive. It may have disappeared from the charts and may not be attracting much attention online.
But walk into a wedding or attend a live event, and you might still hear it.
A particular hook could suddenly become popular again through short-form videos. An advertisement or film could introduce the song to an entirely new audience.
The song hasn’t necessarily lost its relevance. People may simply be discovering and using it in different ways.
Anyone who has worked with music catalogues knows that a song’s popularity and its royalty statements don’t always tell the same story.
Sometimes there’s a perfectly reasonable explanation. Different uses generate different kinds of revenue, and some take longer to appear in statements than others.
Sometimes there’s a gap worth investigating.
The challenge is knowing the difference.
For a label, publisher or catalogue owner, this means looking beyond the most visible performance numbers.
A song that appears relatively quiet on streaming platforms may still have commercial relevance elsewhere.
The reverse can also be true. A song may attract enormous attention without generating the financial returns its popularity might suggest.
Neither situation tells the complete story on its own.
The Popularity-to-Revenue Gap
I find it useful to look at the journey from popularity to revenue through four connected stages.
1. Reach: How widely is the song being heard?
This is the part we tend to notice first.
Streaming numbers, chart positions, social media engagement and audience recognition tell us how far a song has reached.
These are valuable signals. They help us understand whether people are connecting with the music.
But they are only the starting point.
2. Usage: Where and how is the song being used?
A song may be streamed, performed live, played in commercial establishments, included in audiovisual content or licensed for a particular purpose.
These uses are not necessarily visible through the same reporting systems.
For example, strong streaming numbers may tell a label a great deal about digital consumption but very little about how frequently the song is being performed or used in other commercial settings.
Understanding usage means looking at the different places and ways in which a song is actually being consumed.
3. Monetisation: Which uses generate commercial value?
This is where the business arrangements come into the picture.
Does a particular use require a licence? Is it already covered under an existing agreement? Does it create a royalty entitlement? Is there a realistic licensing opportunity worth pursuing?
Not every use generates the same revenue. Some may not create a separate payment obligation at all.
The real question is which uses actually generate money, under what arrangements and for whom.
4. Realisation: How much of that value actually reaches the entitled parties?
This is where things can get complicated.
A use may generate revenue or create a payment obligation, but that doesn’t automatically mean the money reaches the relevant rights holder immediately or correctly.
The usage may need to be identified. Ownership information may need to be verified. Reports may need to be matched with the relevant works or recordings. Collection and distribution processes may take time.
Sometimes the money has been collected but not yet distributed. Sometimes the usage cannot be matched to the right owner. Sometimes the expected revenue was never payable under the applicable arrangements.
These are different situations, and they shouldn’t all be treated as lost royalties.
But they do need to be understood.
There is a difference between money a song could earn, money that becomes payable and money that is actually received.
Together, these four stages offer a practical way to examine what I call the Popularity-to-Revenue Gap.
The idea isn’t to assume that every popular song has uncollected money waiting somewhere.
It’s to understand how audience attention turns into actual usage, how that usage creates commercial value and how much of that value is ultimately realised.
What Music Businesses Should Actually Measure
Most music businesses already have access to plenty of numbers.
Streaming reports, audience data, social media engagement, licensing income and royalty statements all provide useful information.
But the real value comes from connecting them.
Suppose a song becomes particularly popular in a certain market.
Do we know what’s driving that popularity? Is it streaming, social media, live performances or something else?
If the song is being used widely, do we understand which of those uses generate revenue?
And if the reported usage and the revenue received don’t seem to align, do we know why?
It could be a licensing issue. It could be a reporting delay. It could be incomplete ownership information. Or the original expectation about what the usage should earn may simply have been wrong.
I’ve always felt that numbers become more useful when they help us ask better questions, rather than just give us bigger totals.
A catalogue owner might discover that certain songs have consistent demand for licensing, even though their streaming activity is modest.
A publisher may identify markets where usage information deserves closer attention.
A label may find that a song is attracting significant engagement on platforms where the commercial returns are relatively limited.
Each situation tells us something different.
And each may call for a different decision.
This doesn’t mean every business needs an elaborate dashboard or a new technology platform.
It means making better use of the information already available, identifying what is missing and deciding which gaps are worth investigating.
From Popularity to Commercial Intelligence
When we talk about growing a music business, the conversation often turns to new releases, new artists, new markets and new revenue opportunities.
All of these matter.
But there’s also value in understanding what is already happening with the music a business owns or represents.
Which songs continue to attract demand?
Where are they being used?
Are there licensing opportunities the business hasn’t explored?
Are there markets where the revenue picture needs closer examination?
And are there situations where pursuing additional income would cost more than it is likely to generate?
These are commercial questions, not just administrative ones.
The answers can influence catalogue investment, licensing priorities, marketing decisions and how a business uses its resources.
For example, if an older song is consistently attracting interest for audiovisual licensing, that may justify giving it more commercial attention.
If a song is widely used but generates relatively little income under the applicable arrangements, the business may need to understand those arrangements before assuming something is wrong.
And if a potential revenue opportunity requires extensive effort for a very small return, choosing not to pursue it may be the sensible decision.
Not every gap needs to be closed. Not every opportunity is worth chasing.
What matters is knowing the difference.
For companies managing hundreds or thousands of songs, this understanding can be far more useful than simply ranking the catalogue by streams or recent revenue.
It helps the business see not just which songs are popular, but how different parts of the catalogue create value.
Beyond the Popularity Numbers
When a song becomes popular, we can usually see or hear the evidence.
People listen to it, share it, perform it and use it in different settings.
But the business behind that activity is much less visible.
Different uses involve different rights and agreements. Different systems determine how revenue is reported, collected and distributed.
And the money ultimately received may tell only part of the story.
For music businesses, the challenge isn’t to assume that every popular song is leaving money on the table.
It’s to understand the relationship between a song’s reach, its actual usage, the commercial value that usage creates and the revenue ultimately realised.
Knowing that a song is everywhere is one thing. Knowing where it creates value, who is entitled to that value and how much is actually received is another.
That’s when we move beyond measuring popularity and start understanding the business behind it.
Written by Amit Dubey
Founder, Beat Street Music & Publishing | Music Business Strategist
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