Spotify’s direct listing on the New York Stock Exchange marked a new chapter for the streaming music service, and the action has continued to make waves in the industry. The latest developments are that two of the major labels that were early investors in Spotify during its startup days have sold portions of their shares. Continue Reading
Singapore posted a recent record in music revenue, according to the IFPI. The country saw 2017 music sales of $27.9 million, the highest total of the past five years. Digital revenue has steadily risen since 2013, while physical revenue has taken the opposite trajectory. Continue Reading
Warner announced that it generated $791 million in recorded music revenue during its second quarter ending March 31, up 15% on-year. Streaming was responsible for $415 million of that total, a 38.3% from the results in the same period last year. Continue Reading
In Pandora’s Q1 earnings call yesterday, some of the most interesting remarks came during the investor Q&A, as usual. Two key subjects investors brought to the discussion were Pandora’s acquisition of ad-tech company AdsWizz, and the future of podcasting in Pandora’s content catalog. Extensive quotes and context. Continue Reading
Joel Sucherman has been promoted to the newly created role of Vice President, New Platform Partnerships at NPR. For nearly 10 years Sucherman developed the network’s digital portfolio as Senior Director, Digital Products. Continue Reading
Disney is taking the plunge into podcasting. During its NewFront presentation in New York City, the entertainment giant has announced that the Disney Digital Network will release at least one podcast this year. Continue Reading
Spotify shared its first quarterly earnings report since the company listed on the New York Stock Exchange last month. Despite a solid performance in listener and subscriber numbers, Wall Street was unimpressed with the results. Spotify’s stock price sunk after the data was released, falling from about $170 per share to about $153 per share. Continue Reading
SoundCloud announced that Nancy Hood is joining the audio platform in the role of senior vice president, listener. In this capacity, Hood will lead the growth and expansion of SoundCloud’s global consumer listener business, including consumer subscriptions and advertising. Continue Reading
Spotify has announced a new deal with Instagram for an integration with the social network. Also, Music Business Worldwide reports that long-time exec Angela Watts is leaving the company. Continue Reading
Billboard is adjusting how it calculates streaming equivalents for two of its charts, as was previously discussed last fall. The new equations will give greater weight to streams from paid subscription on both the Billboard Hot 100 and the Billboard 200 charts. Continue Reading
Apple announced its financial results for the second quarter ending March 31. The tech giant reported quarterly revenue of nearly $61.14 billion. That’s a 4% increase from the second quarter of 2017. Quarterly earnings rose 30% on-year to $2.73 per diluted share. Continue Reading
Programmatic specialist Jelli has announced several developments for its executive leadership. First, the company hired Rich Knopke as chief revenue officer. He will lead efforts to grow revenue and expand strategic relationships with radio broadcasters and digital audio publishers. Continue Reading