Sony has made yet another move toward transparency in how it is distributing the proceeds from its sale of Spotify stock. Sony Music Entertainment has informed indie labels by email that it intends to make payments to eligible artists and participants as soon as possible. There is one interesting and revealing point. Continue Reading
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
As the latest research will confirm, streaming is the dominating force for music industry revenue. That shift has led to changes in how labels and music companies dedicate their resources. Sony’s Legacy label is the latest to embark on its own digital transition. Legacy focuses on the catalog business, which includes digital remastering old recordings and producing other reissues. Continue Reading
Spotify’s latest strides toward a direct public offering has led to some speculation around how the labels that own stakes in the streaming company will distribute their windfall. But independent artists and labels are looking for more assurance that they won’t be shortchanged. Continue Reading
YouTube has signed a new licensing deal with Universal Music Group. UMG did say that the deal would lead to “growing compensation” for its artists, but neither company has disclosed details. “We’re thrilled to strengthen our partnership with Universal Music Group,” YouTube CEO Susan Wojcicki said. Continue Reading
Music Business Worldwide is reporting that two of the major labels have started legal proceedings against TuneIn UK around possible breach of copyright. Sources told the publication that the suit alleges the UK branch of the online audio company had at least 800 unlicensed music streams in that market. Continue Reading
Sony Music posted recorded music revenue of 303.65 billion yen ($2.7 billion) in the first nine months of 2017. Streaming was responsible for 43% of that nine-month total, or 129.23 billion yen ($1.1 billion). Continue Reading
Brief news items and worthy reads from around the web: PRX CEO talks Podcast Garage plans. Sony Nashville wants to lead in streaming. Pay the performers. Continue Reading
Sony Music Entertainment’s latest financial results showed an overall decline this fiscal year despite streaming growth. Annual revenue for the recorded music division totaled 388.95 billion yen ($3.5 billion), down 5.8% from the year-ago period. Continue Reading
Sony Music Entertainment is seeing growth not just in its overall financial performance, but also in the bottom-line contributions from streaming. The company took in 40.65 billion yen ($372 million) from streaming in the fourth quarter of 2016 and 134.83 billion yen ($1.24 billion) for the whole fiscal year. Continue Reading
Sony reported its financial results from the second quarter, with the parent company posting some declines while its music division recorded growth. Sony Music Entertainment reported revenue up 8% on-year to 150 billion yen ($1.49 billion). Continue Reading
On the Move tracks hires, promotions, and other notable personnel changes within the online audio industry. Today’s moves are both high-profile changes within two of Sony’s music operations. Continue Reading