Quick Hits: A radio consolidation; a new podcast producer; an unusual NPR deal
Brief news items and worthy reads from around the web: A radio buy for Bauer; podcasting’s newest power player; NPR coming to Hollywood? Continue Reading
Apple Music adds 50% off student subscription
Apple Music has added a third subscription tier to its available options for listeners. It has unveiled a student membership that offers a 50% discount on the standard monthly rate. In the U.S., that means $4.99 a month. Continue Reading
Drake fans have longer to wait for Views to leave Apple
Seems Drake is quite the tease. Even though he said in a Beats 1 interview that his new album Views would be exclusive to Apple Music for one week, fans on other platforms will have to wait a little longer. Continue Reading
8tracks will target $10M in equity crowdfunding (despite higher interest)
8tracks is preparing a round of Regulation A crowdfunded securities funding, and the interest in supporting the playlisting company has been high so far. In an email to potential backers, 8tracks said it has received investment interest of more than $33 million from more than 35,000 people. Continue Reading
Streaming is the top revenue source for Warner in Q2
Warner Music Group reported its second quarter financial results, and streaming was the top source of revenue. “We are now the first major music company to report that streaming is the largest source of revenue in our recorded music business, surpassing our revenue from physical formats,” CEO Stephen Cooper said. Continue Reading
Streaming advertising revenue projected to triple in 10 years (SNL Kagan)
SNL Kagan generously sent RAIN News a copy of its annual Economics of Internet Music and Radio report. The 41-page document provides a detailed overview of major players, growth projection in revenue terms for webcasting traditional radio and pureplay internet radio (and how the two trendlines compare), and an outlook for in-car listening. Continue Reading
7digital announces client developments
7digital has expanded its client roster once again. “We’re delighted to be working with both clients on innovative products that take full advantage of the ways in which people around the world now consume, discover and share content online and on the move,” 7digital CEO Simon Cole said. Continue Reading
Omnifone placed into administration
Omnifone announced that it has been placed into administration. Sources told Music Week that the B2B digital music platform is also facing layoffs for up to three-quarters of its staff. Continue Reading
Spotify-owned B2B streaming company makes big splash entering U.S. market
Today marks a big development in the B2B music space, as Soundtrack Your Brand arrives in the U.S. through a deal with McDonald’s. Soundtrack also announced that it has received a total of $20 million in funding to date. It is backed by Spotify, which also owns a third of the company, and works with businesses to set the music they want played at their stores. Continue Reading
U.S. Hispanic listeners love online radio — new research
Audio.ad, an advertising company for Latin American and U.S. Hispanic markets, released a survey about the state of digital audio consumption for the U.S. Hispanic market. The survey included 1,000 Spanish-speaking U.S. participants, and the results show a strong bond with streaming audio. Continue Reading
Russian social network launches streaming app
Russian social network VKontakte has unveiled a streaming music app. The platform will allow a free trial of 90 days before charging a monthly fee, although the rates have not been disclosed yet. Sony and Warner have both signed licensing agreements with VKontakte, but Universal has not. Continue Reading
Spotify expands its global ad business team
Spotify has been doubling down on its advertising business, which supports the Spotify Free consumer experience, for over a year. Today brings more emphasis on the advertising business. Spotify has announced new hires and promotions within its global ad team. Continue Reading