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…
Category archives: Music Tech
TUE. BRIEF: UMG Valuation Soars • Apple Music Expands Lyrics • Tidal Brings Hi-Res To Mobile • More
TUESDAY 1.8.19
Music Business News From Around The Web
Updated continuously under the More News tab
Tech Revenue To Hit Record $398 Billion in 2019
Artificial intelligence (AI) and fast internet connectivity, both critical ingredients for smartphones, smart home devices and smart speakers, will drive the U.S. consumer technology industry to a record-breaking $398 billion in retail revenues in 2019. That’s $301 billion wholesale and 3.9% year-over-year (YOY) growth, which includes streaming services revenue, according…
Taylor Swift’s "The Swift Life" Artist App To Shutter
Taylor Swift’s "The Swift Life" gamified artist app developed in partnership with games maker Glu Mobile, announced that it would shut down effective February 1st. Glus is also responsible for “Kim Kardashian: Hollywood,” “Britney Spears: American Dream,” “Katy Perry Pop” and “Nicki Minaj: The Empire.” Apps by musician’s have struggled…
MON. BRIEF: NetEase Challenges Tencent • SoundExchange Financials • US Piracy Lawsuits Increase • More
1.7.19
Music Business News From Around The Web
Updated continuously under the More News tab
REWIND: The New Music Industry’s Week In Review
In this cycle back through important music industry happenings which occurred over the holidays, we revisit how streaming faired in the fourth quarter, five important music biz predictions for the coming year, the FCC’s suspension of operations, and much more! 2018 On-Demand Music Streams +42%, Paid Streams +50% In Q4…
TOP POSTS: This Week’s Most Read Posts On Hypebot
Ringing in the new year this week, some of Hypebot’s top posts included the potential rescue of His Master’s Voice by Buyvia, why Charlie Walk is, for some reason, still working in the industry, some important music business predictions for 2019, and more! HMV May Be Rescued From Bankruptcy By…
2018 On-Demand Music Streams +42%, Paid Streams +50% In Q4 [BuzzAngle Music]
[UPDATED] On-demand audio streams set a record high of 534.6 billion in the US in 2018, up 42% over the previous year, according to the BuzzAngle Music Industry Year End Report. But the best news for artists and labels came thanks to 50% growth in streams by paid subscribers. Those…
YouTube’s Streaming Domination Clips the Market’s Wings [Mark Mulligan]
For all the media attention given to Spotify and Apple Music, YouTube is still the world’s most popular music streaming service. But its unique licensing position and massive free offering often has a negative effect on the entire music streaming market. _________________________________ By Mark Mulligan of MIDiA and the Music…
5 Music Industry Predictions 2019: Fan Clubs, Apple Music, Chart Decline and More
With the music business in a constant state of tumultuous evolution, 2019 is shaping up to be a wild year for the industry. Here we look at five major developments we’re likely to see unfolding in the coming months. ___________________________ Guest post from Haulix Daily Everyone knows the saying, “new…