Music streaming services will generate $8.4 billion in the U.S. alone this year, a 33% spike over 2018 revenue, according to a new Consumer Technology Association report. In its mid-year report, “U.S. Consumer Technology Sales and Forecasts,” the CTA predicts revenue...
LAST MONTH, FAST COMPANY PUBLISHED an uncharacteristically long interview with Spotify’s thirty-five-year-old CEO Daniel Ek—he rarely does this sort of press. In the interview, Ek reflects on the year he attempted to tour with a band (“I realized that music...
If you want to get an idea of just how lucrative streaming platforms have become for the major labels today, check this out. Earlier this week, MBW analyzed two sets of very important financial results: Sony Music Entertainment and Universal Music Group. We converted...
Sony Music sold approximately 50% of its shares in Spotify during the streaming company’s first month on the New York Stock Exchange, MBW has learned – generating in the region of $750m as a result. The major record company owned 5.7% of Spotify’s stock – a total...
Rob Stringer will be a popular man in Tokyo right now. Sony Music’s parent, Sony Corp, confirmed yesterday that its subsidiary sold 17.2% of its Spotify stake on Tuesday (April 3) – the streamer’s first day on the New York Stock Exchange. A quick run through the...
Gareth Emery March 16, 2018 In a Friday investor presentation, Spotify executive Troy Carter declared that “most of the artists’ reservations [about Spotify] have been addressed.” CEO Daniel Ek pointed to a thriving marketplace between artists and fans. But is any of...
