After pivot away from DIY distribution, Stem welcomes ex-Venmo COO Mike Vaughan to Board of Directors

Fintech expert will “provide industry insights and connections that will propel Stem’s artist and label offerings”
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Official: Subscription streaming revenue growth is slowing down in the UK

Is key global market showing very first signs of streaming saturation?
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Daniel Ek rubbishes iHeart boss Pittman’s claim that ‘73% of Spotify’s listening comes from just 3% of their audience’

iHeart now reaches 275 million Americans monthly – more than the top two closest broadcast radio competitors combined
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Why, in a post-Tencent/Universal world, the three major music companies are worth nearly $90bn

MBW estimates that Universal, Sony and Warner are now collectively worth just shy of $89bn
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Amazon Music’s subscriber base isn’t really growing faster than Spotify’s

Spotify is increasing its subs base by over 20m people year-on-year – Amazon is dragging significantly behind
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‘US regulation for songwriters is archaic – and it results in less fair outcomes.’

SESAC continues to disrupt the long-standing domination of US perfoming rights by ASCAP and BMI – while escalating its presence around the world
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IFPI to launch ‘formal inquiry’ into allegations surrounding Chairman Plácido Domingo

Global trade body taking internal action following sexual harassment claims
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Cinq Music raises another $40m to buy music rights in masters and publishing

Money adds to the $20m Cinq raised two years ago
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Exec who launched Universal’s Digster and Spinnup in Sweden starts platform for fans to invest in artists ‘without a traditional label’

Mattias Tengblad and Emil Angervall launch Corite out of Sweden with interesting fan-funding model
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Big changes at Sony Music in West Africa: ‘Banko’ Lloyd arrives as GM Michael Ugwu departs

Ugwu has been GM at African label outpost since 2016
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