Music Industry News Roundup For The Week Of 8/25/16
Here’s the music industry news roundup from the week of August 25th, 2016. It’s a little more diverse this week, but there are a few blockbuster topics (Spotify never fails to excite). Let’s get into it.
Spotify’s label deals are now out of contract. The company is going month to month, and trying to negotiate a lower royalty rate, meaning that it wants to pay even less to artists and labels. Spotify already has a “soft” deal, but the labels are now pushing for something better. Not a good strategy for Spotify when its IPO is looming, in my opinion.
London’s looking for a “night czar.” The city is looking for a person to help rebuild it’s fading nightlife. It pays about $46,000 for 2 1/2 days work per week. This is a government gig, but there’s probably not a lot of power to change much, as the reason why clubs are dying has more to do with finances than regulation.
A former Apple Music exec defends exclusives. This is a hot topic, as some say it’s really hurting the music business while others think it’s saving it. Sean Glass makes some good points about why it’s a positive.
AM radio doesn’t seem to have much future. This radio consultant sees there’s a need for it and a few stations are thriving, but more and more AM stations are closing all over the world and the trend will probably continue.
Samsung’s free Milk Music service will close in September. It seemed like a good idea in 2014 when it was launched, but never caught on with Galaxy users. The company is urging users to switch to Slacker instead.
Forbes highest paid DJs. EDM has peaked, especially in the US, but the top DJs are still raking it in.
Tencent is the biggest company in China, and wants to be everywhere else too. The digital entertainment company has the financial backing of the Chinese government, and content deals with all the big players in the world.
Want to invest in music, there’s a fund for that. 10 years ago everyone wanted to be in the recorded music business, now it’s touring and and merch, which is booming. This investment fund specializes in that area.
Is sleep a musical genre? It is to some people that specialize in sleep music creation and sleep enhancement products. Don’t be surprised to start seeing this show up in playlists.
That’s the News Roundup of what went on in the music industry last week. Let’s see what next week brings.