As Chinese internet giant Tencent struggles with profitability and maintaining a strong stock market valuation, Spotify, which owns a significant stake in Tencent Music (and visa versa), should pay attention to avoid a similar misfortune. _________________________ Guest post by Chris Castle of Music Tech Solutions If you’ve ever asked yourself…
Category archives: Startups & Funding
City National Acquires Exactuals Artist PaymentHub
City National Bank has acquired Exactuals, the LA based creator of entertainment industry payment system PaymentHub. In 2017, City National participated in a $10 million funding round for Exactuals. Details of today’s deal were not disclosed. Mike Hurst will remain CEO of Exactuals. He and the firm’s other executives are…
Rocket Songs Is A Marketplace Of Original Songs
Jonathan Stone of original song marketplace Rocket Songs joins Michael Brandvold and Jay Gilbert on the Music Biz Weekly podcast. Music publishing is a multi-billion dollar industry that has been mostly undisrupted by the tech and data revolution. Rocket Songs is working change that and democratize music publishing. Music publishing…
Audius Raises $5.5M For ‘SoundCloud On The Blockchain’
Audius has raised a $5.5 million to use blockchain and cryptocurrency to assure that artists are paid fairly. It’s a pitch made repeatedly by numerous startups in recent months, but Audius now has the capital to actually move this game-changing concept forward. _____________________________ Music tech startup Audius has raised a…
Nashville Music Hackathon Registration Opens
Registration in now open for the second Music Hackathon organized by Music Tech Nashville. The day will start with music tech presentations followed by the hackathon. The day is free and open to designers, coders and musicians. Lunch and dinner will be provided with support from First Tennessee Bank. Speakers…
Meet The Google Funded Group That Hacked EU Copyright Vote [David Lowery]
The EU parliament recently endured several weeks of being bombarded by tweets, calls, emails, and letters opposing Article 13 of the Copyright Directive, which would have forced major tech companies like Google to more tightly regulate copyright on their platforms. This "movement" was the result of a small group of…
50% Of Universal Music Is For Sale, But Who Will Buy It?
Vivendi announced this week that it is no longer spinning off its Universal Music Group with an IPO; but rather that it wants to sell up to 50% of the world’s largest music company. But given the price tag and other hurdles who can afford UMG? Who will want to?…
Why Congress Should Support Startups In The Music Modernization Act
In this piece Chris Castle breaks down the latest inside the world of the Music Modernization Act, and why the law needs to be altered in order to restore balance between the rule makers and the rule takers, and better support startups in their bids for success. ________________________________ Guest post…
Variety, Rolling Stone Owner Penske Invest In BuzzAngle To Challenge Billboard Chart Dominance
Penske Media has invested in music charts and data company BuzzAngle Music. Penske owns Rolling Stone, Variety, Deadline and IndieWire, and plans to leverage BuzzAngle charts across their properties. The investment and partnership offer the first major threat to Billboard Magazine and its ubiquitous Nielsen generated music charts. Launched in…
Eventbrite Files For IPO [Report]
Eventbrite, the popular indie and D.I.Y. ticketer, has reportedly filed for an IPO for later this year. The company’s lead underwriters are Goldman Sachs and JP Morgan Chase, according to the Wall Street Journal. Eventbrite has raised $330 million to date, and helps sell more than three million tickets to…