Spotify valued at $13 Billion ahead of stock market listing

Spotify has disrupted the way people consume music, and now the streaming platform will also be disrupting the stock market. It was announced yesterday via Reuters that Spotify could be the first major company to directly list itself on the New York Stock Exchange (“NYSE”) when it goes public later this year or early next year. According…

GOOGLE AND TRADE BODIES CLASH OVER GOOGLE-COMMISSIONED STUDY ON YOUTUBE PAYOUTS

YouTube has been the dominant music discovery social platform for about as long as the social media era has been in effect but that doesn’t mean its current positioning within the music business hasn’t come at a cost. Having constantly come to gripes with performance rights organizations, songwriters, and publishers for low royalty payouts and…

TWO MAJOR LABELS REPORTEDLY IN DISCUSSIONS TO ACQUIRE SPINNIN’ RECORDS

According to trusted sources of Music Business Worldwide, ownership of indie dance label powerhouse Spinnin’ Records is supposedly up in the air. Sources also revealed that both Sony Music Entertainment and Warner Music Group are currently in contention to acquire the Dutch record label. Private equity organizations are also said to be in the mix at this point in time but don’t…

Why Google Looked To Burning Man To Find A New CEO

Google already has a great reputation for being a strong team of innovators. After bringing us the world’s largest Internet search engine they have brought us even more technology to make life easier like Google Maps, Google Play for music and Pixel, the Google cellphone. They are trying to take over the world – and they…

Is Facebook About To Become A Music Streaming Powerhouse?

Facebook may be giving Spotify a run for its money in the very near future. Multiple vacancies in the social media giant’s new music task force strongly indicate that Facebook will be launching a ‘comprehensive music strategy’ soon. Uh-oh, Spotify – you might want to keep an eye on this movement. To put this into…

Dubset Announces $4 Million Funding Round

Dean Chalkley David Guetta Dubset Media is getting an injection of funds as it attempts to solve one of dance music’s most frustrating issues. The company, led by CEO Stephen White, announced this morning (Feb. 27) it had completed a $4 million round of Series A funding led by Boston-based equity firm Cue Ball Capital. In…

FACEBOOK SEEKS TO POSITION ITSELF AS YOUTUBE ALTERNATIVE FOR THE INDUSTRY

For a long time now, YouTube has been the dominant social media platform for music discovery across the major social networks. According to industry sources, it looks like Facebook is gaining a piece of the pie with deals that would “govern user-generated videos that include songs.” As of now, Facebook doesn’t currently have any deals in place with…

WARNER MUSIC JUST JOINED THE $1BN STREAMING RECORD COMPANY CLUB

Warner Music Group is now a proud member of the $1bn streaming club. The company announced today that its recorded music operation generated $311m from the likes of Spotify and Apple Music in the three months ending December 31 last year. That figure, up 47% year-on-year, was enough to take calendar year 2016 streaming revenues…

SONY MUSIC EARNED $1.2BN FROM STREAMING PLATFORMS IN 2016

Sony Music Entertainment generated 134.83bn Yen ($1.24bn) from streaming music in calendar 2016 – and 40.65bn Yen ($372m) in the three months to end of December alone. That means Sony’s recorded music division is now earning approximately $124m every month, $31m every week, $4m every day and $167,000 every hour from the likes of Spotify and…

Madison Square Garden Buys Majority Stake in Nightlife Company TAO Group

Seth Browarnik Nas performs at TAO Nightclub Sundance on Jan. 19, 2013 in New York City. The Madison Square Garden Company has acquired a majority stake in nightclub and restaurant operator TAO Group, the companies announced on Wednesday. MSG paid $181 million for a 62.5 percent interest in the hospitality group, which operates 19 dining and…

Michael Lynton Exiting Sony to Join Snapchat as Chairman

Michael Lynton Exiting Sony to Join Snapchat as Chairman Michael Lynton photographed on Nov. 7, 2016 in New York City. Christopher Goodney/Bloomberg via Getty Images Michael Lynton is stepping down from his position as CEO of Sony Entertainment, the film, television and music conglomerate, to join social media power Snapchat. The move will happen in…

GOOGLE REPORTEDLY CONSIDERING PURCHASING SOUNDCLOUD

GOOGLE REPORTEDLY CONSIDERING PURCHASING SOUNDCLOUD Though rumors of a Spotify buyout were recently squashed, it seems that tech giant Google is the latest to look into buying Soundcloud. According to Music Business Worldwide, Google is reportedly considering purchasing the streaming platform for half of its $1 billion asking price. Last year, Soundcloud made major inroads with the…

3 OMINOUS PROBLEMS THE UK MUSIC BUSINESS MUST OVERCOME IN 2017

3 OMINOUS PROBLEMS THE UK MUSIC BUSINESS MUST OVERCOME IN 2017 The UK’s music sales figures for 2016 are in. And while on the surface there’s good news, there are some serious warning signs for the British industry to take into account. We’ll get to that in a minute. First, the annual lancing of self-evident…

‘FACEBOOK MUST STRIKE A DEAL WITH MUSIC PUBLISHERS AS SOON AS POSSIBLE’

‘FACEBOOK MUST STRIKE A DEAL WITH MUSIC PUBLISHERS AS SOON AS POSSIBLE’ The careers of unsigned artists are being caught in the crossfire of an increasingly aggressive copyright assault on Facebook by music publishers. Performers began to publicly complain about covers of popular tracks being pulled down from Facebook in October, following a spate of…

SFX TO BECOME LIVESTYLE INC.

SFX TO BECOME LIVESTYLE INC. SFX has returned from its bankruptcy announcement with LiveStyle Inc. SFX Entertainment has come out from bankruptcy and has rebranded itself as LiveStyle Inc. It will go on with President and CEO Randy Phillips at the helm. The company continues to operate music properties like Life in Color, Mysteryland, and LIV…

SoundCloud vows to begin paying more artists

SoundCloud vows to begin paying more artists The tide appears to be turning for SoundCloud. Back in October, the platform announced that its annual revenue was up 43% to nearly $28 million — catalyzed by both the introduction of its premium tier, SoundCloud Go, and a rampant increase in advertisements. Having finally achieved a glimpse of…

JUDGE APPROVES SFX ENTERTAINMENT REORGANISATION THAT CUTS DEBT BY $400 MILLION

JUDGE APPROVES SFX ENTERTAINMENT REORGANISATION THAT CUTS DEBT BY $400 MILLION SFX Entertainment has reportedly had a plan to reorganise the business approved by a judge, which will cut the company’s debt by $400 million (£320m). The Wall Street Journal reports that the decision will see the company recover from nine months of bankruptcy. SFX…

MINISTRY OF SOUND RECORDINGS SOLD TO SONY MUSIC UK

MINISTRY OF SOUND RECORDINGS SOLD TO SONY MUSIC UK Leading UK indie Ministry of Sound Recordings today announced its sale to Sony Music UK. While this is undoubtedly another case of a big major swallowing up a smaller indie, there is a much more important angle to this – surviving in the streaming era. Ministry…

STREAMING REVENUE HAS ALREADY TOPPED $1BN AT UNIVERSAL THIS YEAR

STREAMING REVENUE HAS ALREADY TOPPED $1BN AT UNIVERSAL THIS YEAR Streaming revenues from recorded music comfortably surpassed $1bn at Universal Music Group in the first nine months of 2016. From January-September, UMG’s recorded sales from streaming and subscription services reached €1.03bn ($1.1bn) – up 64.3% on the same period in 2015 (at constant currency and…

PACHA GROUP SOLD FOR €350 MILLION

PACHA GROUP SOLD FOR €350 MILLION Pacha Group, the nightclub franchise headquartered in Ibiza, was reported to be up for sale for €500 million in September, before a statement issued by the club giant confirmed the business was not on the market shortly after. Now, it has been reported that Pacha Group has been sold…

“Big Three” Labels Sue YouTube Ripping Website

“Big Three” Labels Sue YouTube Ripping Website Universal Music Group, Sony Music Entertainment, and Warner Music Group – collectively, the “Big Three” record labels – have filed a lawsuit against the world’s most popular YouTube ripping website, YouTube-mp3.org. The website is one of the primary offenders of unlawful stream ripping in the world, accounting for more than 40% of…

Soundcloud’s Annual Revenue Has Grown 43% to Almost $28 Million

Soundcloud’s Annual Revenue Has Grown 43% to Almost $28 Million Have the tides finally turned for Soundcloud? Its revenues have boosted 43% in just one year, according to financial data analysis by Digital Music News. According to preliminary details shared with DMN recently by PrivCo, Soundcloud was able to accumulate revenues of roughly $27,919,665. The New York-based company tracks private company…

SONY MUSIC INKS NEW EXCLUSIVE CHINA DEAL WITH TENCENT FOR DIGITAL CATALOGUE

SONY MUSIC INKS NEW EXCLUSIVE CHINA DEAL WITH TENCENT FOR DIGITAL CATALOGUE Sony Music Entertainment has renewed its partnership with Tencent Music for the exclusive digital distribution of the major’s master recordings across mainland China. According to the IFPI, China generated $169.7m for recorded music rights-holders last year – up 63.8% on 2014 – making…

YOUTUBE EARNT $9BN IN REVENUE LAST YEAR, TOWERING OVER SPOTIFY

YOUTUBE EARNT $9BN IN REVENUE LAST YEAR, TOWERING OVER SPOTIFY Google’s flagship video service YouTube pulled in $9bn in revenue last year, according to an analyst with in-depth knowledge of the service’s finances. Ken Sena, an analyst at investment bank Evercore ISI, estimates that the platform will have paid out around $5bn in the year…

Shock news: Lyor Cohen is joining YouTube.

LYOR COHEN JOINING YOUTUBE AS GLOBAL HEAD OF MUSIC The former Def Jam and Warner exec has been named YouTube’s new Global Head of Music. Google is an investor in Cohen’s independent label 300. It is unclear what the move will mean for that operation. Robert Kyncl, Chief Business Officer, YouTube, said: “Lyor is a…

SPOTIFY HAS ALREADY PAID THE MUSIC BUSINESS OVER $1.2BN THIS YEAR

SPOTIFY HAS ALREADY PAID THE MUSIC BUSINESS OVER $1.2BN THIS YEAR Spotify has announced that its lifetime payments to the music business have now topped $5bn. The news came as the streaming platform confirmed its invite-only launch in Japan. What’s particularly interesting about the new milestone is that it was only 15 months ago –…

YOUTUBE, BEWARE: FACEBOOK IS READY TO DO SOME GLOBAL MUSIC LICENSING

YOUTUBE, BEWARE: FACEBOOK IS READY TO DO SOME GLOBAL MUSIC LICENSING What’s that coming over the hill? Facebook looks set to make a major splash in music in the coming months… if a revealing new job ad is anything to go by. The social media giant, which boasts more than 1.7bn monthly active users, is…

2016 ON TRACK TO BE THE FIRST YEAR THE RECORDING SALES GROW SINCE THE ’90S

2016 ON TRACK TO BE THE FIRST YEAR THE RECORDING SALES GROW SINCE THE ’90S “This feels like the music industry is succeeding despite itself” Amid stories of doom and gloom about how the proliferation of streaming services is splintering the recording industry, new figures have emerged suggesting that those very business models could prove…

FORMER AEG LIVE HEAD RANDY PHILLIPS TO REPLACE ROBERT SILLERMAN AS CEO OF SFX

FORMER AEG LIVE HEAD RANDY PHILLIPS TO REPLACE ROBERT SILLERMAN AS CEO OF SFX Former AEG Live CEO Randy Phillips might be appointed head of SFX Entertainment. The chapter 11 bankruptcy court proceedings for electronic music conglomerate SFX Entertainment have gone less than smoothly, but a proposed leadership switch may change matters. Sources informed The…

SOURCES CLAIM SOUNDCLOUD IS LOOKING TO SELL FOR $1 BILLION

SOURCES CLAIM SOUNDCLOUD IS LOOKING TO SELL FOR $1 BILLION The company is in the early stages of deliberation Speculation regarding the future of Soundcloud has long been discussed, whether the company is receiving investments, signing deals with record labels, or implementing new features. Now the German company, which many believe is trending downward, is…

Apple and Spotify Continue Their War

Apple and Spotify Continue Their War The nitpicking and gripping continue between the two music streaming services of Apple andSpotify. While this topic of discussion isn’t new by any means, their argument has been taken to the next level by Apple’s latest actions. Back it late May, Apple refused to allow Spotify’s latest update into…

SoundCloud to add video advertisements to US applications

SoundCloud to add video advertisements to US applications SoundCloud is rebounding from prior losses through strategic restructuring. The company recently received a $70 million investment from Twitter, and are entering the paid subscription arena with “SoundCloud Go,.” Because of this, SoundCloud is slowly moving toward a profitable future, while also ameliorating its free services that placed it among the top streaming…

GIORGIO MORODER RETURNS TO CASABLANCA RECORDS

GIORGIO MORODER RETURNS TO CASABLANCA RECORDS via Press Release: Academy Award®- and Grammy Award®-winning pioneer of disco, Giorgio Moroder, returns home to Casablanca Records, re-signing to the label where he launched a dancefloor revolution. The 76-year-old electronic dance music icon is already gearing up to release new music through Casablanca later this summer. In 1977, Moroder made history with…

SFX Encounters New Financial Woes

SFX Encounters New Financial Woes SFX Entertainment just cant avoid bad luck. The large corporation has been in the news quite a bit recently but for all the wrong reasons. Debt, failing business ventures and bankruptcy is all we have heard about SFX the past couple years. A plan was set up for SFX to…

APPLE DISPELS RUMORS OF KILLING MUSIC DOWNLOADS

ndAPPLE DISPELS RUMORS OF KILLING MUSIC DOWNLOADS Recently, we reported Apple’s rumored plans to eliminate music downloads from their business model. Now, Apple has spoken up regarding the alleged statement. It’s quite unlike the company to publicly address rumors, but this speculative strategy made its rounds through the internet rather quickly and caught some serious attention….

WMG IS THE FIRST MAJOR LABEL TO CITE STREAMING AS THEIR LARGEST SOURCE OF REVENUE

WMG IS THE FIRST MAJOR LABEL TO CITE STREAMING AS THEIR LARGEST SOURCE OF REVENUE Warner Music Group just made history. Today in the company’s second quarter earnings report, CEO Stephen Cooper made the following announcement: “Just five quarters ago, streaming was the third-largest revenue source in our recorded music business, behind both downloads and physical….

Beatport’s Auction Delayed To May 26th

Beatport’s Auction Delayed To May 26th SFX Entertainment, owner of famous download store and streaming service Beatport, has pushed back the date of Beatport’s auction from May 5 to May 26. “At the request of interested parties who require more time to finalize their bids, we have agreed to reschedule the Beatport sale hearing to…

JORGE BREA, CEO AND PRESIDENT OF SYMPHONIC DISTRIBUTION

JORGE BREA, CEO AND PRESIDENT OF SYMPHONIC DISTRIBUTION Jorge Brea provides artists with all the tools they need to get their music heard As the CEO and President of Symphonic Distribution, Jorge Brea plays a major role in getting music heard by the masses. He’s basically a middle man for budding producers to place their music at…

Universal’s Aftercluv Signs David Solano

Universal’s Aftercluv Signs David Solano Luis Estrada, Managing Director of Aftercluv, David Solano and Pedro Guzman, EVP of Aftercluv.COURTESY PHOTO Aftercluv Dancelab, Universal Music Latin Entertainment’s dance music imprint, is strengthening its crossover power with the signing of David Solano, the massive touring festival Life in Color’s resident DJ. Solano, who was born in Bogota, grew up…

Melomind headphones will teach you to relax

Melomind headphones will teach you to relax Melomind is the latest pair of headphones that does more than merely play music back to you. The brand claims to be a hardware and software product that facilitates relaxation every day and eventually, teaches users to relax when the headphones are off. The headphones come equipped with four electroencephalographic sensors,…

WHAT HAPPENED TO THE MUSIC

WHAT HAPPENED TO THE MUSIC? AN ANALYSIS OF THE INDUSTRY’S EVOLUTION L.E. Kalikow has seen it all, from the progression of Rock & Roll to the emergence of dance music with Disco, and the rise, fall, and rise again of vinyl. For over 35 years he served as President of Music Business Reference, Inc., and as a…

Billboard and Spotify team up for exclusive streaming partnership

Billboard and Spotify team up for exclusive streaming partnership The Billboard charts make their way to the streaming sphere, as per today’s announcement that the music platform is teaming up withSpotify for an exclusive partnership. The streaming service giant will enable playback of Billboard’s music charts, which clock in at over 75 different verticals. The…

Beatport and Scratch DJ Academy announce music education partnership

Beatport and Scratch DJ Academy announce music education partnership The impending auction of Beatport — mere weeks away at this point — has not prevented the site from announcing a new partnership with Scratch DJ Academy. The crux of this collaboration is to utilize Beatport’s online infrastructure as a means to allow aspiring DJ’s and…

SFX Puts Flavorus on the Auction Block

SFX Puts Flavorus on the Auction Block Bad news everyone… SFX Entertainment just can’t seem to catch a break this year. If declaring bankruptcy, cancelling multiple music festivals, having its own CEO step down, and even being court ordered to pay Artists upfront weren’t enough for you, it seems as though SFX is going to…

SKRILLEX’S BOOKING AGENT DROPS THE SECRET TO EDM’S FUTURE

SKRILLEX’S BOOKING AGENT DROPS THE SECRET TO EDM’S FUTURE Lee Anderson is a genius of the music industry. As Vice President of AM Only’s East Coast office, he’s had a hand in the rise of Zedd, Skrillex, Disclosure, Boys Noize, Tchami, and countless others, in addition to orchestrating tours like Dirtybird BBQ, Full Flex Express, and Disclosure’s Wildlife. In a recent…

UNIVERSAL MUSIC GROUP IS ‘OUT OF CONTRACT’ WITH YOUTUBE – SOURCES

UNIVERSAL MUSIC GROUP IS ‘OUT OF CONTRACT’ WITH YOUTUBE – SOURCES Universal Music Group is locked in a chilly negotiation period with YouTube, as the major’s long-running licensing deal with Google’s platform switches to a rolling basis. MBW understands that UMG’s licensing agreement with YouTube expired earlier this year, and currently seems a fair way…

SiriusXM reaches 30 million subscribers

SiriusXM reaches 30 million subscribers Satellite radio monolith SiriusXM has surpassed the milestone of 30 million subscribers. The Liberty Media-controlled station added 465,000 new subscribers in the first quarter of 2016, up from 431,000 in the same period a year ago. SiriusXM closed out March with 30.1 million subscribers. Liberty Media currently owns a 62%…

SFX FORCED TO RESERVE $15 MILLION SPECIFICALLY TO PAY ARTISTS

SFX FORCED TO RESERVE $15 MILLION SPECIFICALLY TO PAY ARTISTS Good news for artists could mean bad news for SFX. A large amount of money that the company could have really used to stay afloat has been ordered by U.S. Bankruptcy judge Mary Walrath to be allocated specifically to pay artists at SFX festivals and…

2Dutch Boutique Music Group joins forces with Armada Music

2Dutch Boutique Music Group joins forces with Armada Music AMSTERDAM, April 5th, 2016, Dutch boutique music group 2-Dutch announced its joint venture with Amsterdam-based record company Armada Music. Together, the two major dance music entities will continue Showtek’s Skink label and bring a whole new imprint to the industry: 2-Dutch Records. Soon to put out…

DEADMAU5 TELLS DEORRO TO “LEARN THE BUSINESS YOU’RE IN”

DEADMAU5 TELLS DEORRO TO “LEARN THE BUSINESS YOU’RE IN” Producer/DJ Deorro‘s Twitter is a constant source of both hilarity and forehead-gripping insight. His usual posts range from lofty and sometimes frustratingly straightforward pieces of life advice like, “Some will reach 80 asking if they could’ve done better with their life. Some will reach 80 saying they couldn’t…

WHICH MUSIC STREAMING PLATFORMS ARE WORTH PAYING FOR?

WHICH MUSIC STREAMING PLATFORMS ARE WORTH PAYING FOR? The music industry in 2016 looks very different to the way it did just a decade ago. To cope with the huge shift which is largely due to the internet and easy access, the music industry has had to adapt and to change. In 2015, for example,…

BANDCAMP HAS PAID ARTISTS $150 MILLION IN EIGHT YEARS

BANDCAMP HAS PAID ARTISTS $150 MILLION IN EIGHT YEARS The independent online music retailer has been self-funded and profitable since 2012 We have said it before in the past, but Bandcamp is proving to be the best outlet for artists and labels to reach their fans and turn a profit. According to Billboard, the online…

DEADMAU5 & MORE TAKE ACTION TO UPDATE OUTDATED COPYRIGHT LAWS

DEADMAU5 & MORE TAKE ACTION TO UPDATE OUTDATED COPYRIGHT LAWS Since 1988, when the Digital Millennium Copyright Act was first enacted, the Internet’s base of users has drastically inflated from just 200 million to 3.5 billion, according to RouteNote. Without a doubt, the interactions, capabilities and platforms currently occupying the web are a far different…

SFX CEO Robert Sillerman Officially Steps Down

SFX CEO Robert Sillerman Officially Steps Down Robert Sillerman‘s last day of acting CEO ended earlier this week after an announcement on March 29th. Even though he stepped down as Chief Executive Officer, he will remain Director of the Board. This news comes to no surprise after the public discovered that SFX filed for Chapter 11…

Robert Sillerman’s parting words as he officially steps down as CEO of SFX

Robert Sillerman’s parting words as he officially steps down as CEO of SFX On March 29, just two days before Robert Sillerman officially stepped down as CEO of SFX Entertainment, the music mogul shared his parting words with the company’s staff. In an emotional letter – perhaps the most honest thing Sillerman has written to date — he acknowledges…

SOUNDCLOUD RELEASES PAID SUBSCRIPTION SERVICE, SOUNDCLOUD GO

SOUNDCLOUD RELEASES PAID SUBSCRIPTION SERVICE, SOUNDCLOUD GO After years of speculation, SoundCloud has entered the paid streaming game with its new, hybrid service: SoundCloud Go. The service introduces a new tier of paid tracks to the streaming giant that includes the catalogs of three major labels and 20,000 independent labels. SoundCloud touts Go as having…

BEATPORT OFFICIALLY GOES UP FOR SALE, SEVERAL BUYERS INTERESTED

BEATPORT OFFICIALLY GOES UP FOR SALE, SEVERAL BUYERS INTERESTED SFX has officially begun the process of auctioning off online store Beatport, following the service’s loss of over $5 million in revenue and a prior statement that initial negotiations would begin in April. Earlier this month, the parent company revealed that in order to quell some of their heavy financial…

SoundCloud plans to monetize remixes to stand out against competitors

SoundCloud plans to monetize remixes to stand out against competitors SoundCloud has been in a state of flux over the past several years. As the independent – and free – streaming platform grew to be too big for major labels to ignore, pressure from industry giants to remove users’ content and profiles increased, both in…

THE 178 BEATLES SONGS PAUL MCCARTNEY IS RECLAIMING FROM SONY/ATV

THE 178 BEATLES SONGS PAUL MCCARTNEY IS RECLAIMING FROM SONY/ATV Sir Paul McCartney is in the process of reclaiming US publishing rights for a huge chunk of The Beatles’ catalogue from Sony/ATV. The U.S. Copyright Act of 1976 stipulates that writers of pre-1978 tracks can reclaim their US publishing rights – if they’ve previously signed…

Spotify to pay $30 million settlement in publishing lawsuit

Spotify to pay $30 million settlement in publishing lawsuit Spotify has reached a settlement with the National Music Publishing Association for unpaid royalties resulting in the platform’s hosting of unmatched songs. The payout is estimated to be between $20-$30 million with an independent accounting firm holding the embattled streaming giant accountable for accurately determining and disbursing backpay…

SONY DEAL DONE, HERE’S HOW SOUNDCLOUD CAN SURVIVE A BRUTAL STREAMING MARKET

SONY DEAL DONE, HERE’S HOW SOUNDCLOUD CAN SURVIVE A BRUTAL STREAMING MARKET SoundCloud is not a steady ship. With cumulative losses of €74.7m ($84m) between 2012-2014, the Berlin-based streamer is over-reliant on investment and under severe pressure to fix its business model. Two years ago, these losses wouldn’t have greatly worried SoundCloud co-foundersEric Wahlforss and…

SONY & SOUNDCLOUD FINALLY REACH A DEAL

SONY & SOUNDCLOUD FINALLY REACH A DEAL Sony Music Entertainment has not only licensed SoundCloud, but taken equity in the streaming business as part of the deal. The world’s second largest record company, Sony will not only receive stock inSoundCloud, but has also been invited to participate in the Berlin-based platform’s next funding round. Having…

SoundCloud may be a paid service within nine months

SoundCloud may be a paid service within nine months According to sources at Digital Music News, SoundCloud may launch a paid subscription service by October this year. The online streaming service currently is free to all users, though the company introduced audio ads in August 2014. The speculation is corroborated by the March 7 hiring of Allison…

THIS NEW FEATURE MAY PREDICT DANCE MUSIC’S NEXT BIG ARTIST

THIS NEW FEATURE MAY PREDICT DANCE MUSIC’S NEXT BIG ARTIST Do you rely on your tastemaker friends to provide you the hottest new tunes? Or perhaps a particular podcast of handpicked tracks to help you stay current? Well soon you’ll become the person ‘in the know’ with Spotify’s new tool that curates playlists based on…

TIDAL RECYCLES THEIR CFO AND COO ON THE HEELS OF MAJOR LAWSUIT

TIDAL RECYCLES THEIR CFO AND COO ON THE HEELS OF MAJOR LAWSUIT Yesterday, on a $5 million lawsuit facing Deadmau5 and Daft Punk-endorsed streaming service TIDAL, brought upon by Yesh Music regarding the alleged lack of payment for 116 of their client’s songs. Now, TIDAL has made the news once again by firing both their chief…

AVICII NAMED 6TH FASTEST-GROWING COMPANY IN EUROPE

AVICII NAMED 6TH FASTEST-GROWING COMPANY IN EUROPE We all know by now that many of the top DJs are more than just their music – they are a brand, a commodity, something that can be bought and sold and placed in various positions for wider mass appeal (see Empire Of The Sun for Honda). With…

RECORD LABELS WIN $22.2M IN LAWSUIT AGAINST MP3SKULL

RECORD LABELS WIN $22.2M IN LAWSUIT AGAINST MP3SKULL Music labels are in a constant war with illegal filesharing sites, and their newest battle has resulted in a major victory. A group of US labels filed a lawsuit against website MP3Skull.com, winning over $22 million in damages. The judge presiding over the case awarded the record labels maximum…

EDC HAS GENERATED OVER $1.3 BILLION FOR THE LAS VEGAS ECONOMY

EDC HAS GENERATED OVER $1.3 BILLION FOR THE LAS VEGAS ECONOMY In the year 2015, Electric Daisy Carnival made its fifth annual return to Las Vegas, Nevada. With open arms, Las Vegas brought in Insomniac Event’s massive festival after Los Angeles decided to part ways with it. A new study released from Beacon Economics prove…

UNIVERSAL MUSIC GROUP SEES ITS HIGHEST REVENUE IN A DECADE

UNIVERSAL MUSIC GROUP SEES ITS HIGHEST REVENUE IN A DECADE Unlike the treacherous, fiscal situations of organizations like Soundcloud, record label Universal Music Group is currently experiencing one of the most profitable periods in their history. According to Music Business Worldwideand Thump, the company earned a total of $5.6 billion in 2015 alone! This number comes as a…