Streaming revenue has topped yet another report. The International Federation of the Phonographic Industry has released its Global Music Report 2018, which showed a third consecutive year of increased music sales on the back of streaming growth. Continue Reading
PRS for Music, a UK collection agency, announced that it paid out record royalties to its members last year. The group’s 2017 payouts totaled £605.1 million, up 14.7% from the 2016 amounts. PRS said that 6.6 trillion performances were reported last year, a 53% on-year increase that led to a record-high collection total of £717 million. Continue Reading
Deezer is updating the signature Flow feature in its streaming music service. Flow is a lean-back option designed to deliver songs tailored to the individual’s taste with minimal engagement from the listener. Now, Deezer has added an option that gives listeners more control over what they hear. Continue Reading
Facebook has continued its spree of licensing deals, inking a bunch of agreements with groups for independent artists. On Friday, it announced deals with Merlin, [PIAS], Beggar’s Group, and InGrooves. Those four groups will make their catalogs available to the social media network’s users. Continue Reading
Tencent Music appears to be moving forward with plans for an IPO in the United States later this year. The Wall Street Journal (paywall) reported that Tencent Music will start interviewing underwriting banks over the next month. Sources predicted that the company could be valued at $25 billion on a U.S. stock exchange, which would make it the fourth-largest tech IPO in the country. Continue Reading
IFPI reported that streaming music helped drive growth for India’s music industry in 2017. Total music revenue in the country rose from 5.7 billion rupees in 2016 to nearly 7.26 billion rupees last year. Streaming music revenue grew by 37.26%. Continue Reading
Podcasts are taking the world by storm. The Weather Channel has announced that it is debuting its first podcast next week. The program, Weather Geeks, is hosted by former American Meteorological Society president Dr. Marshall Shepherd. Continue Reading
The New York Times is hosting its first-ever Student Podcast Contest. The publication presented the contest as a way to incorporate audio narratives into a classroom setting. The official announcement of the contest is expected next week, but some preliminary details are available. Continue Reading
iHeartMedia has hired Justin Nesci for the newly created role of executive vice president of advanced audio and data revenue. In this position, he will be responsible for data-driven, audio strategies for a range of the company’s platforms. That will include the SmartAudio platform, a programmatic ad tool for delivering targeted messages to listeners. Continue Reading
Podcasting has come a long way in attracting a dedicated, passionate audience with several unique traits, but there is still progress to be made in reaching the mainstream American listener. That’s the narrative laid out today in the Podcast Consumer 2018 report from Edison Research and Triton Digital. Ever the congenial host, Edison VP Tom Webster presided over the presentation. Continue Reading
ASCAP reported that it distributed more than $1 billion to its members for the first time in 2017. The performing rights organization collected revenue of about $1.144 billion and distributed more than $1.007 billion last year. The group’s total revenue was up 8% on-year and distributions increased 10%. Continue Reading
MIDiA Research has shared its 2017 figures for the global recorded music market, and its results show a big year of growth thanks to a powerful performance from streaming. Global recorded music revenue hit $17.4 billion during 2017, up 8.5% from $16 billion in 2016. The year’s performance returns the global market to just below its levels from 2008. Continue Reading