Brief news items and worthy reads from around the web: SoundCloud CEO on labels, varied business models; Apple Music is tops down under; how Pandora’s CTO works. Continue Reading
The New York Post has reported new numbers about sign-ups at Apple Music. Considering how much hype centered around the new entry into the streaming market, it’s somewhat to be expected, but the degree to which rumors and speculation have swirled around Apple Music is impressive. Continue Reading
Streaming had a strong performance in the first half of 2015, according to the latest RIAA report. Overall wholesale revenue rose 0.8% to $2.3 billion compared with the year-ago period, and overall retail value inched down 0.5% to $3.2 billion. While those percentage changes are small, they do still mark a contrast from the group’s 2014 mid-year report, where the market’s wholesale revenue dropped 2.5% as streaming growth wasn’t enough to balance the losses in other sectors. Continue Reading
Deezer announced that it plans to hold an IPO later this year. The streaming service is currently projected to obtain a market valuation of about 1 billion euros ($1 billion). Going public could help the French platform to compete with other rival services in the increasingly crowded streaming space. Continue Reading
SFX appeared to be pulling itself out of a financial hole last week with the announcement of $90 million in new funding. But the hits are still coming for the company. Its investors have reportedly hired a Los Angeles law firm to investigate SFX after allegations of fraud. Continue Reading
BMI announced that it will pay bonuses to the top songs on select streaming platforms. The performing rights organization’s new payment system complements the existing structures for premiums distributed to the top songs on radio and television channels. Continue Reading
One of Tidal’s artist-owners has confessed that the launch of the boutique streaming service was a bit disastrous. Win Butler, frontman of The Arcade Fire, also pointed to the major label demands as a factor in Tidal’s pricing at $20. Continue Reading
Apple Music had two big business developments break yesterday. First, the streaming service debuted a surprise mixtape by hip-hop superstars Drake and Future. Then a new commercial marked a shift in rhetoric for the streaming platform. Continue Reading
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The weekly update of the streaming audio industry, from RAIN News. THIS WEEK: Two new and unusual stations; Nielsen report on streaming and music; podcast research; more. Continue Reading
SFX announced that it has secured $60 million in new financing. The company also refinanced its $30 million revolving credit facilities for a total of $90 million. Its founder had made an effort to take the company private but was unable to secure backing as share prices have been dropping. Continue Reading
Pandora CFO Mike Herring participated in a session at a Goldman Sachs conference, fielding questions from one of the financial company’s analysts. His talk touched on how Pandora measures its advertising, it’s latest efforts in mobile ads, and the looming CRB decision. Continue Reading
Deezer has created its first ad spot for UK televisions. The colorful ad shows a series of characters that rhyme with the streaming service, such as geezer and crowd-pleaser. This spot is the first in a series of four, which promise to get ever-zanier with the rhymes. Continue Reading