$9.1 billion was wiped off its market capitalization this week, after Netflix missed aggressive targets by analysts, despite solid earnings. As Spotify prepares for its quarterly earning report next week, there are lessons for both investors and CEO Daniel Ek that can be learned from the fate of its fellow…
Category archives: Startups & Funding
Hipgnosis Songs Closes $23M The-Dream Catalog Deal, Debuts On London Exchange
Hipgnosis Songs Fund Limited (LON:SONG) has acquired a 75% stake in the song catalog of Terius Youngdell Nash aka The-Dream. The fund, which listed on London’s main exchange today, will pay $23.75 million USD. Songs in the The-Dream’s catalog include #1 singles "Umbrella", which topped wthe charts for Rihanna in…
One77 Music Launches With $27M Catalog Backed By Virgo
Music publisher One77 Music has launched in New York City, with an eye for new catalog and some very deep pockets. Led by veteran music exec Jennifer Blakeman, One77 launches with a catalog of 6,000 songs, which it values at $27 million, as well as a substantial, but undisclosed capital…
Spotify Hiring Patterns Reveal Post-IPO Focus
CEO Daniel Ek has promised that Spotify going public would not change the culture of the company or its mission to build a more artist centered new music industry. But a study of post IPO hiring at the music streamer reveals that, for now at least, ramping up sales and…
Blink Brings Big Brother To Concerts With $1.5M Funding For Facial Recognition
Austin-based startup Blink Identity has announced that it has raised $1.5M in a seed round led by Sinai Ventures with the participation of Live Nation, Techstars, and a number of other live entertainment related funds. The company, which was founded by Mary Haskett and Dr. Alex Kilpatrick, completed the Techstars…
Tencent Music Confirms US IPO, Spotify Could Net $2.7B
Chinese internet giant Tencent confirmed it is spinning off its music unit with a US IPO. Details of the offering, which Tencent revealed in a Hong Kong stock exchange filing, are being finalized, but Spotify is a big winner. A Tencent Music (TME) US IPO is seen as likely to…
Instagram Debuts Music Feature For Stories
Popular photo+ sharing platform instagram recently introduced a new feature which allows its users to choose from a variety of popular licensed songs to employ in their stories. ________________________________ Guest post Jeanette Keats of the Symphonic Distribution Blog Instagram has launched a brand new feature that allows its 1 billion…
Tencent Music To File $30B U.S. IPO Friday [REPORT]
Digital music and streaming conglomerate Tencent Music Entertainment (TME) is set to file an SEC application for a $30 billion IPO in the U.S. this week, according to a report. TME, which is majority-owned by Chinese corporation Tencent, owns Chinese digital music services QQ Music, Kuwo and KuGou. Sources tell…
ArtistGrowth, Pinnacle Partner To Bring Financial Services, Capital To Touring Artists
ArtistGrowth, a mobile artist management platform, and Pinnacle Financial Partners have announced a strategic partnership and equity investment designed to broaden the financial services and capital available to touring entertainers. Details of Pinnacle’s investment were not disclosed. ArtistGrowth launched in 2013 with a $2 million seed investment from industry veterans…
Merck Mercuriadis’ Hipgnosis Fund Raises $260M For Song Acquisitions, IPO Next
Hipgnosis Songs Fund Ltd has raised $260 million in a private offering and is expected to IPO in the coming weeks. The fund, led by veteran artist manager Merck Mercuriadis, will purchase and manage US and UK song catalogs. The company made the announcement in a letter to shareholders on…