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Once again, new Drake album sets records and highlights the impact of a streaming economy

Drake continues to exert dominance over the music landscape with a new album that has broken records and demonstrated how extensively streaming has changed the role of longstanding industry standards and expectations. Scorpion dropped on June 29, and it quickly racked up enough streams to crack multiple records. The double album now holds the single-day streaming records for Spotify and Apple Music. Continue Reading

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Tencent formally announces plans to spin off music division for stateside IPO

Tencent is slowly progressing with its plan to spin out its music branch into a standalone business that will eventually list in the United States. The latest move from the entertainment conglomerate was a filing this weekend with the Hong Kong stock exchange announcing its proposed change that would see Tencent Music Entertainment Group become a separate entity. Continue Reading

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Nielsen mid-year report finds streaming still on the rise with on-demand growth

Nielsen has released its 2018 mid-year music report, and the analysis shows overall growth in music consumption as streaming continues to post bigger and bigger numbers. Total album equivalent consumption — which includes all of Nielsen’s metrics for albums, tracks, on-demand audio, and on-demand video — rose 18.4% on-year to 360.1 million. Continue Reading