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“#Music labels clamor to buy pricey Sting and David Bowie catalogs” Major record labels are clamoring to acquire the song catalogs of rock ‘n’ roll icons — and they’re poised to shell out hundreds of millions of dollars to get the deals done. Universal Music Group, the world’s largest record label, which reps the likes…
“#Spotify CEO says COVID slump ‘behind us’ as podcasts fuel rebound” Music streaming giant Spotify said it continued to grow its subscriber base and advertising revenue thanks to podcasts in the third quarter, as the effects of the pandemic waned. Shares of Spotify rose over 5.6 percent in early-morning trading to $266.67. Spotify Chief Executive…
“#Universal Music Group’s shares jump in stock market debut” Shares of Universal Music Group soared more than 35 percent in the company’s stock market debut in Europe’s largest listing of the year to date. The world’s biggest record label, which represents musicians like Lady Gaga, Taylor Swift and Billie Eilish, traded around $29.32 a share…
“#Amazon reportedly boosting live audio, podcast offerings” Amazon is beefing up its audio offering with a hefty investment in the live music and podcast space, according to a report. Under its Amazon Music division, the company is building out a live audio platform that is meant to disrupt traditional radio and rival the likes of…
“#Aaliyah’s music will finally stream 20 years after her death” It’s been a long time, indeed. But, finally, all the dope beats that Aaliyah left us to step to — after she died in a plane crash 20 years ago on Aug. 25, 2001 — will finally be available to stream soon. For years, Blackground…
“#Spotify tests 99-cent-a-month subscription with ads” Music and podcast streaming giant Spotify is testing a new, ad-supported subscription tier for 99 cents. The tier, dubbed Spotify Plus, allows customers to play the songs of their choice with unlimited skips, according to a report from The Verge. Currently, Spotify’s other ad-supported tier, which is free, only…
“#Spotify’s stock tumbles after CEO warns of subscriber slowdown” Shares of Spotify tumbled as much as 10 percent on Wednesday after the Swedish streaming giant warned that its strong pandemic growth is beginning to taper off. While at-home streaming has boomed during the pandemic, Spotify Chief Executive Daniel Ek cautioned that uncertainty lies ahead as…
“#Apple backs independent musicians with $50 million investment” Apple led a $50 million fundraising round for a fledgling company that helps musicians distribute and market their music while allowing them to keep their copyright, according to a report from the Wall Street Journal. UnitedMasters, which was launched four years ago with $70 million in Silicon…
“#Spotify adds subscribers with podcasts push” Spotify added more users than expected at the end of last year as people stuck at home due to the coronavirus pandemic tuned in to streaming music and podcasts like “The Joe Rogan Experience,” the company said on Wednesday. Despite the uptick, investors sent shares of the Swedish streamer…
“#Spotify touts ‘full recovery’ from COVID-19 fallout” Spotify said it has rebounded from the slump it suffered at the height of the coronavirus pandemic as it continued to add subscribers. The Swedish streaming giant’s chief executive Daniel Ek told investors Thursday that the company ended its third quarter with 144 million paid subscribers and 320…