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Global on-demand music streams up 15.1% in first half of 2024

Global on-demand music streams up 15.1% in first half of 2024

Industry News | 0 comments

Research firm Luminate has published its mid-year report for 2024, with a raft of stats exploring the continued growth of the recorded music market. The headline stat: 2.29 trillion. That’s how many on-demand audio streams there were globally in the first six months...
AMID CONTROVERSY OVER SPOTIFY’S SONGWRITER PAYMENTS, DANIEL EK CASHES OUT $118.8 MILLION IN COMPANY SHARES

AMID CONTROVERSY OVER SPOTIFY’S SONGWRITER PAYMENTS, DANIEL EK CASHES OUT $118.8 MILLION IN COMPANY SHARES

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  It’s been some week for Daniel Ek. Yesterday (April 23), Spotify‘s share price jumped up by over 11% following the company’s Q1 results announcement, in which it confirmed its biggest-ever quarterly operating profit. That share price rise gave Spotify a market...
US music publishers ramp up the rhetoric against Spotify’s royalty reducing bundling trick

US music publishers ramp up the rhetoric against Spotify’s royalty reducing bundling trick

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  The campaign against Spotify’s sneaky audiobook bundling plans in the US is gaining momentum, with the boss of the National Music Publishers Associationdeclaring “it’s time to fight again”, and the Association Of Independent Music Publishers committing its...
Sir Lucian Grainge Confirms ‘Greater Compensation’ Is Coming From Tiktok For Umg Artists And Songwriters

Sir Lucian Grainge Confirms ‘Greater Compensation’ Is Coming From Tiktok For Umg Artists And Songwriters

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Universal Music Group and TikTok, by way of a joint announcement, have confirmed that they have struck a new licensing deal – three months after UMG pulled its recordings catalog from the service. What does this new deal mean for UMG and its artists and songwriters?...
Profitable At Last: Spotify Reports $180 Million Operating Income, Double-Digit Subscriber Growth for Q1 2024

Profitable At Last: Spotify Reports $180 Million Operating Income, Double-Digit Subscriber Growth for Q1 2024

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Spotify has reported double-digit subscriber growth – and long-sought profitability – for 2024’s opening quarter. The efficiency-minded audio entertainment company posted its Q1 2024 financials this morning, only weeks after reports pointed to another round of Spotify...
Warner Music’s Kyncl goes big on importance of major labels and data, says he is confident UMG TikTok dispute will be resolved

Warner Music’s Kyncl goes big on importance of major labels and data, says he is confident UMG TikTok dispute will be resolved

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Warner Music CEO Robert Kycl has told investors that “the role of large music companies is growing exponentially relevant”, and that WMG’s “ability to aggregate large volumes of rights across recorded music and publishing provides individual artists and songwriters...
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