Nielsen Music has released it 2018 Year-End Highlights. The survey shows a year of significant overall industry growth, with total album equivalent audio consumption up 23% over 2017, driven by a 49% increase in on-demand audio song streams compared to 2017. A similar analysis of 2018 stats by BuzzAngle Music…
Author archives: Bruce Houghton
How Music and Video Will Rescue Apple [Mark Mulligan]
Music saved Apple’s business back in 2003 when a new iTunes Music Store boosted iPod sales and the entire company, paving the way for the greatest ever period in Apples history. As Apple stock struggles, MIDiA’s Mark Mulligan sees a repeat performance coming with music, along with video and maybe…
RPM Music Distribution Shuts Down Without Warning
RPM music distribution has shut down without warning. The Concord, Ontario based company whose distribution and one-stop clients include independent labels Concord, eOne, Drag City and Rough Trade. A letter sent to clients by RPM president Paul Herzog reads: "To all accounts, I regret to inform you that RPM Distribution…
Spotify (NYSE: SPOT) To Post Q4 Financials
Spotify (NYSE: SPOT) will post its fourth quarter 2018 financial on February 6th before the market opens. This week, four key analysts downgraded the streamers target price. Option traders also predicted a rocky ride ahead. The streamer will hold a question and answer session to discuss fourth quarter 2018 financial…
Sony Adds New Streaming Music Format ‘360 Reality Audio’
Sony has announced a new music format called “360 Reality Audio” that gives listeners the feeling of being immersed in sound from all directions. It is delivered by Sony’s object-based spatial audio technology and makes it possible for artists to create a 360-degree musical experience by mapping sound sources such…
Apple Music Expands Song Lyrics To 7 More Countries
Apple has expanded Apple Music lyric support to seven more countries. It is now live in France, Germany, Ireland, Mexico, New Zealand, South Africa and Spain. Apple Music includes both song lyrics, which appear onscreen while listening, and a search function to find song titles by typing in a phrase…
Deutsche Bank Raises UMG Valuation 45% To $33 Billion As Sales Search Continues
Deutsche Bank has raised its valuation of Universal Music Group 45% to $33.19 billion, up from a previous $22.86 billion. That values UMG higher than the market capitalization of its parent company Vivendi, which currently sits at $32.35 billion. "With the hype around UMG stake sale having subsided, there is…
Top Analysts Cut Spotify [NYSE: SPOT] Stock Price Target, See Rough Ride Ahead
Four top stock analysts have shifted to a bearish outlook for Spotify (NYSE: SPOT). Monday, Guggenheim, Deutsche Bank, Stifel and Nomura reset their target prices to $120, $135, $170 and $188 respectively. All are above Spotify’s current $119.36 price at close of market Monday. Spotify made its market debut last…
TUE. BRIEF: UMG Valuation Soars • Apple Music Expands Lyrics • Tidal Brings Hi-Res To Mobile • More
TUESDAY 1.8.19
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Fake Beyoncé, SZA Albums Reveal Streaming Fraud Problem
Late last year, new albums by Queen Carter and Sister Solana appeared on Spotify and Apple Music. But instead of being the surprise releases by Beyonce and SZA that fans believed they were, both turned out to be illegally uploaded rough mixes and stolen tracks. There is no new SZA…