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Here’s the Music Industry News Roundup for the week of January 13th, 2017. Everyone is back from holiday vacation and the year is starting to get busy. Let’s see what’s in the news.
Pandora lays off 7% of its workforce. Things are getting tough in streaming land as the company tries to overcome a cash crunch.
Deezer’s Chief International Officer jumps ship to newspaper publisher and SoundCloud’s co-founder takes a new position as well. The big shakeup in streaming is beginning now. There will be far fewer players by mid-year.
Instagram is dropping ads into stories. Not a lot of people are happy about it. Will it kill what until now has been the golden goose? Will musicians make money?
Snapchat is trying hard to make itself important to the music business. You know what? It’s succeeding.
YouTube is running a contest to find someone to create the official music videos for some of Elton John’s biggest songs. “Bennie And The Jets,” “Rocket Man,” and “Tiny Dancer” never had videos but now they will. Don’t forget that Elton recently publicly railed against YouTube for its tiny payout, but he’s in bed with them now.
iHeart Radio officially launched it’s subscription service. $5 and $10 per month tiers, but will people actually pay a monthly fee for radio that they can get free?
Universal and Sony Music lead in streaming market share. Tunecore leads in indies, which is the only surprise here.
Ed Sheeran breaks the all time Spotify record 3 times in 2 days. 46.5 million streams from latest two releases in just 4 days. Boy, that guy is scorching hot.
Labels are rereleasing classic albums to try to skirt copyright law. In the EU, older albums can go to the public domain under the right conditions, and the major labels are exploiting it.
It looks like the era of print music critics has come to an end. The few that are left (it’s estimated there are only 10) are given multiple jobs on the paper or magazine outside the arts. There’s no sense trying to get a magazine or newspaper review anymore.
Pandora’s stock dropped like a rock after reports that Sirius XM’s acquisition was unlikely. This is a company in trouble, and it doesn’t look like any help is on the way.
Music is the fastest growing form of entertainment in the UK. Streaming is leading the way, but I’m not sure what that actually says about the health of the industry.
That’s the Music News Roundup of what went on in the music industry last week. Have a great week ahead!
Here’s the Music Industry News Roundup for the week of December 16th, 2016. There are a lot of interesting news items again this week (more than usual for so late in the Holiday season), so let’s get right into it.
Global music grew by a billion dollars in 2016. That’s a big deal because it was at $15 bil last year, and this year it’s at around $16 billion – a significant upswing. The big question – how much will actually trickle down to artists and songwriters?
Almost every country except Japan saw some growth. Japan is still tied to physical product by both customs and laws, so it hasn’t really experienced digital music yet. Good news for the rest of the world though.
Pandora is now open to selling to SiriusXM. This might be good for Pandora, but not so much for Sirius. Does Sirius even care? Do you?
Apple should by both Sirius and Pandora. This Barron’s article makes a case for it. I can see the Sirius part, but not Pandora, since Apple Music is doing just fine without it. Subscription required.
The music industry is asking president-elect Trump to get tough with pirates and YouTube. No idea how this will go down, but it’s worth a try.
YouTube is about to pay a lot of back royalties to publishers. Not only that, it provides more protection and opportunities to make more money. Too little too late?
YouTube still has a lot of unclaimed royalties. Although the above deal might take care of most of that. Can some of it be yours?
Elton John is both for and against YouTube. The superstar rails against the platform for inadequate copyright protection, then turns around and signs an exclusive deal with it. Talk about mixed messages.
Fashwave is the new music of the alt-right. Fash stands for “fascism” and the music is Synthwave, mostly out of Sweden. The artist’s music is co-opted and they have nothing to do with the movement, but what’s happened to it is pretty creepy.
This app makes all songs into Christmas songs. Can’t get enough Christmas carols? Then this might be for you.
Radio has forgotten about Millennials. It figured that it lost them to downloads 10 years ago and hasn’t worried about them since. Since like an opportunity lost.
The high-powered Irving Azoff is suing a large radio association. He’s trying to get more money for artists from radio play, but after 2 years there’s been no movement.
That’s the Music News Roundup of what went on in the music industry last week. Let’s see what next week brings.