Japanese social app Line plans streaming service

Line, a social and messaging app based in Japan, has announced a new foray into streaming music. Thanks to a partnership with Sony Music and Avex Digital, the company will launch a service called Line Music. According to a brief news post on Line’s website, the three businesses are still working on the details of what Line Music will look like. Continue Reading →

Warner Music’s 2014 financials show streaming growth, but marginalized publishing revenue

Warner Music Group posted its financial report for the year ending Sept. 30, and the results included some impressive figures related to streaming. The company’s revenue rose 5.2% to $3.02 billion, it’s highest number since 2009. That total was bolstered by an increase of $150 million in revenue from streaming music. Continue Reading →

Social music app Musx raises half a million in seed funding

An up-and-coming streaming service named Musx announced seed funding of $500,000, according to VentureBeat. It’s an iOS app designed for social sharing of music. Members can post songs from YouTube or SoundCloud. As has become common in these mobile apps, users can create their own playlists. Musx adds a collaborative angle, so friends can build playlists together. Continue Reading →

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SoundCloud looking to raise $150 million at $1.2 billion valuation

SoundCloud is in discussions to raise new funding to the tune of $150 million at a valuation of more than $1.2 billion, The Wall Street Journal reported. According to two sources familiar with the negotiaions, the music platform is looking to raise money as it works to secure licensing deals with major labels. If SoundCloud successfully secures its high valuation and large funding, then it may be in a better position to play ball with Universal Music Group or Sony Music Entertainment. Continue Reading →