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Here’s the Music Industry News Roundup for the week of March 24th, 2017. Spotify gets a lot of attention because it’s getting serious about its upcoming public offering, but lots of other news as well. Let’s get into it.
Spotify is nearing a new licensing deal with the major labels. It’s been out of contract for the last 2 years, but needs to reup before its IPO this year.
The Street takes a grownup look at Spotify’s current financial situation. There are a lot of forces currently at work here that are pushing Spotify to make deals that it might not want.
Speaking of Spotify, it’s collecting a huge amount of data from you. It doesn’t care much if you stream for free because it’s learning so much about you that it’s turning into cash.
Voltra has a different approach to monetizing music, both for the consumer and artist. The question is, will it survive against the deep pocketed services that have a big head start?
Just after you thought no one can top Ed Sheeran, here comes Drake again. He breaks both Apple Music and Spotify records with 90 million streams in 24 hours for his latest release.
Vinyl versus streaming – the future. Experts predict what may happen to both, but they’re actually pretty vague, and I think off the mark.
Discogs is bringing record collecting into the 21st century. Although there are many who go along kicking and screaming.
Google Hangouts gets a makeover. It’s not only going after Slack, but WhatsApp and Facebook Messenger as well.
LiveNation has acquired 13 companies in 13 months. The latest is the UK’s Isle of Wight festival. Talk about a rollup.
Radio is listened to at the same rate in all age groups. Surprising numbers from Nielsen, but these numbers have been holding steady for years.
That’s the Music News Roundup of what went on in the music industry last week. Have a great week ahead!
I’m a big proponent of virtual reality, especially when the audio is done well, and many have predicted that the technology will eventually be a boon to concerts. We’re going to see soon enough as virtual reality concerts will actually begin to roll out this summer.
NextVR, which has been a leader in VR broadcasting of sporting events, has teamed up with LiveNation to broadcast a series of concerts, although no artists have been named as of yet. There will be a limited number of VR music events this summer, with a full schedule planned for 2017.
The NextVR broadcast will be available via Samsung’s Gear VR using the Oculus Home app, although they will also most likely be available on other VR platforms as well.
LiveNation/NextVR aren’t the only companies jumping into the concert broadcast game. iHeartRadio and Universal Music Group previously announced that they would also broadcast VR concerts this year.
Virtual reality concerts hold great promise because it gives the viewer a feeling of actually being there and watching from the best seat in the house, which many feel may eventually eclipse attending an event. Paying $200 for a nosebleed seat might not be a suitable option when you can get a better view from your home while still feeling immersed in the event.
The same can be said for sporting events as well, as NextVR recently signed a 5 year deal with Fox Sports, although there may be more technical challenges in this niche than with music as the best seat in the house may not apply, although it’s probably too soon to really tell. VR users will ultimately decide.
One thing’s for sure, VR is taking beginning to take off, even though it still hasn’t hit the general public yet, as more and more companies are jockeying for position.