Spotify has begun negotiations to renew its licencees with all three major labels and other rights holders. The talks begin with Spotify on the offensive against the music industry on multiple fronts. The streamer must reach new deals this year with Universal Music, Sony Music, and Warner Music, which together…
Author archives: Bruce Houghton
Only 1% Of Users Pay For Music In India, says Spotify’s Amarjit Singh Batra
Spotify’s entry into India is filled with opportunities and challenges. YouTube is the country’s most popular music service, with Spottily the eighth player to launch there. But the biggest challenge that Spotify faces in India is one that is shared by all seven of its competitors. Of the more than…
Facebook Says CHANGE YOUR PASSWORD, Admits Hundreds Of Millions Could Be Seen By It’s Employees For Years
Hundreds of millions of Facebook account passwords were stored in plain text and searchable by thousands of Facebook employees going back as far as 2012. Facebook found the problem in January, but just went public with it on Thursday. Security experts are urging users to change their passwords immediately. From…
FRI. BRIEF: Spotify Goes On Offensive • Hipgnosis Buys 3 Catalogs • UK Music Revenues Fall • More
FRIDAY 3.22.19
Music Business News From Around The Web
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Facebook Could Be the Future of Social Music, But Isn’t Yet [Mark Mulligan]
In an ere where almost everything is billed as "social," streaming music is a surprisingly outlier. Given music’s power to bring people together, streaming would seem ripe as a social hub. Facebook could fill that void – without ever launching its own streaming service. But, as MIDiA’s Mark Mulligan points…
Songtradr Adds $12 Million To Fund Global Growth
Music licensing platform Songtradr has completed a Series B capital of US$12 million to support acquisitions, growth and product development. This round brings Songtradr’s total funding to date to $21.5 million. Billing itself as the only fully-automated, open marketplace for music licensing with over 400,000 artists and catalogs from 190+…
Songs By Jay-Z, Nina Simone, More More Added To National Recording Registry
The Library of Congress announced Wednesday (March 20) that songs performed by Jay-Z, Cyndi Lauper, Neil Diamond and Nina Simon are among 25 recordings being inducted to the National Recording Registry. This year’s selection includes: Jay-Z’s Blueprint album, Lauper’s “She’s So Unusual,” Diamond’s “Sweet Caroline,” Simon’s “Mississippi Goddam,” Earth, Wind…
Splice Raises $57.5M, Artist Payments Pass $15M
Splice has raised $57.5 million in a Series C round to expand its music sample subscription service and other artist services. The startup also announced that it has paid $15 million in royalties since launching in 2013 to creators who offer samples through the company’s artist-to-artist service, Splice Sounds. Leading…
THU. BRIEF: Splice Raises $57.5M • Tencent Music Tumble • Pandora Celebrates Spring • Tuner • More
THURSDAY 3.21.19
Music Business News From Around The Web
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Tencent Music [NYSE: TME] Stock Fell 11% Wednesday
UPDATE 2: Tencent Music [TME] stock took a hit Wednesday after the streamer’s first post-IPO report to investors included a $127 million quarterly loss. Tencent stock closed Wednesday at $16.66 USD, down $1.91 or 10.29% and fell another 1% in after hours trading. Investors were not happy, even though the…