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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 23rd, 2016. Surprisingly enough, there’s a lot of music business-related and social news this week, despite the Holiday season.
iHeart Radio is in big financial trouble. Radio is dying in general, and a few years ago when the hedge funds bought in they didn’t realize that fact. The company probably won’t change much because of the problems (at least in the short term) but the investors will take a haircut soon.
Apple Music is trying to become more than a streaming platform. It’s now more of a quasi-label, offering lots of promotion in addition to streaming. This interview with two Apple Music execs is revealing.
Not to be outdone, YouTube is quietly beefing up promotion for some artists as well. Not that it helps the indie artist much, but you can see where all this going. [subscription required]
There are indie artists making it on streaming alone though. Yes, it’s not only possible, but this article outline a number of indie artists in different countries with massive streaming numbers.
The VR revolution is here, but it has yet to break with consumers. Many think that this will change in 2017, but the consumer uptake so far is disappointing, and understandable.
Dance music hit a big speed bump in 2016. This article outlines 11 things that broke the hearts of EDM aficionados.
The album cycle is pretty much dying, with Drake the perfect example of the new singles paradigm. But playlisting plays a big part in streaming success as well, and this interview with Spotify’s Troy Carter is enlightening.
Streaming is changing music again, finally making the Long Tail concept viable. This Harvard Business Review article shows how streaming is turning the music industry into a singles business, and is killing the album. Oh, and more people are listening to music other than the hits along the way.
Streaming apps aren’t keeping pace, and user experience is the thing to concentrate on. Industry analyst Mark Mulligan makes a number of good points about music falling behind in engagement to non-music apps like Snapchat, Instagram and Buzzfeed.
Twitter is toast, according to one financial analyst. The company is experiencing plateaued growth and a brain drain, and the stock is expected to take a dive soon.
Finally, Facebook is correcting its metrics for ad reach, streaming reactions, Likes and Shares. It looks like the numbers we were seeing weren’t really true after all. If you advertise on Facebook, you should read this article before placing another ad.
That’s the Music News Roundup of what went on in the music industry last week. Let’s see what next week brings.