Archives October 2021

Sony Music
Sony Music’s Streaming Revenue Surpasses $1 Billion

According to the latest financial statistics, Sony Music is experiencing massive growth in streaming revenue.

Sony’s recorded music division earned over $1 billion in the three months running up to September. It’s a watershed moment for the music company, experiencing these new highs for the first time.

Spotify
Spotify Sells Large Stake In Distrokid

Spotify, the music streaming platform, has sold two-thirds of its Distokid shareholding, according to sources.

The total which Spotify has pulled is estimated to be roughly $223 million.

SoundCloud Teams Up With Splice
SoundCloud Teams Up With Splice

Splice and SoundCloud have teamed up to develop a new programme for up-and-coming musicians.

The new scheme, dubbed Nova by the two businesses, will be open to unsigned Splice and SoundCloud creators.

Maria Egan, Splice’s Chief Music Officer, said: “We’re opening the doors to our most talented users and leveraging our global producer community to amplify these creators. The power of our platform, alongside this incredible partnership with SoundCloud, will give artists a unique opportunity to kick start their careers.”

Adele Spotify
Adele Breaks A New Spotify Record

Adele has returned with her new track, ‘Easy On Me,’ which is already breaking records! Furthermore, in a single day, the new song became the most listened to song on Spotify.

In just seven days, ‘Easy On Me’ has crossed 84.95 million chart streams, making it Spotify’s most-streamed song in a week.

Warner
Warner Is Now Worth More Than $27 Billion

According to yCharts, Warner Music is worth more than $27 billion.

Also, given the new analysis, the legendary music corporation is worth $1 billion more than it was last year.

In addition, WMG’s share price has increased by 60% in the last five years, and an individual share currently costs $48,06 as of October 21, 2021.

Spotify And Shopify
Spotify And Shopify Team-Up. Great News For Musicians And Fans!

Spotify has partnered with Shopify, an e-commerce platform, to enable bands to sell merchandise straight from within the Spotify platform.

Camille Hearst from Spotify said: “For many fans, Spotify is the primary way they interact with an artists’ music, and we are excited to give artists a new way to capitalize on that moment. We want to provide artists with as many resources as possible to help turn listeners into fans, fans into superfans and, ultimately, help artists earn more.

‘”The integration of Shopify’s powerful backend for powering commerce presents a significant step forward in our efforts to help artists maximize additional revenue streams and give them agency over their careers.”

Apple Music
Apple Music Introduces A Voice Plan Subscription

The streaming provider Apple Music is launching a new subscription called ‘The Apple Music Voice Plan.’

The new membership will be $4.99 and will use Siri, Apple’s built-in voice recognition capability.

Oliver Schusser from Apple said: Apple Music and Siri are natural partners and already work seamlessly together. With Siri actively used on hundreds of millions of devices worldwide, we are thrilled to add this new plan that delivers an effortless music experience just by using your voice and makes Apple Music accessible to even more people around the world.”

Many individuals, however, are perplexed as to why they will charge for this, as it appears to be a service that should be built-in at no additional cost.

Spotify
Spotify Songwriters Should Be Paid More According To The Industry

The industry and songwriters have long chastised Spotify for not increasing its royalty payment. Despite mounting criticism, the Spotify board of directors and other leading music tech businesses are opposed to increasing their income split with people who make the platform what it is: a music service.

Spotify and other significant platforms intend to lower songwriter rates, even more, to make matters worse for songwriters. Milk and Honey’s Lukas Keller slammed the door. He stated, “This is the most disgraceful move that Big Tech could make against the creators. It’s happening in our front yard, and we see you — pride goeth before a great fall.”

Australian Music Industry
Australian Music Industry Urges Government To Do More For Live Events

Following concert cancellations due to the pandemic, the Australian music industry is pressing the government to take a stand and lead on the live music business.

In the United Kingdom, the government has been collaborating with insurers to support events that had to be cancelled owing to COVID-19. Down under, though, the situation is different, with venues still in dire need of assistance.

Sarah Hanson-Young from The Greens’ said: “The live performance sector isn’t asking for a hand-out, it is asking for a product that simply isn’t available right now so that they can plan gigs, festivals and events with confidence they won’t keep taking massive financial hits with ongoing restrictions and lockdowns.”

ANote Music
ANote Music Brings In Beyoncé’s Father As A Senior Adviser

According to a close source, Beyoncé’s father, Mathew Knowles, will join ANote Music as a senior advisor.

The future growth of the marketplace for investing in music royalties will receive guidance from the music industry veteran.

Knowles said: “Since first meeting ANote at an industry event in 2019, I’ve been thoroughly impressed by Marzio and his team’s pioneering approach to alternative funding solutions for music rights owners.

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