Spotify generated $1.2 billion in revenue in the third quarter of 2017, according to a new report. The strong revenue growth comes as the music streamer nears its first public stock offering at an estimated at $20 billion valuation.
Cupertino, CA based Lino has raised $20 million to build a blockchain driven YouTube competitor. Many analysts believe that the delivery, tracking, transparency and micro-payments enabled by blockchain offers the perfect platform to build a more open and egalitarian YouTube alternative.
Regardless of what music-related enterprise you're embarking on, funding is almost always an essential component for moving forward. Here we look at how to craft and prepare grant proposal and increasing your odds of success.
While there have long been index funds built around media and tech stocks, there has never been an index fund created specifically around music, something which famed producer Quincy Jones is hoping to change.
Spotify has 70 million paid subscribers plus tens of millions more ad-supported users. But as a deeply unprofitable company, its future is far from certain. That has many in both the music industry and Wall Street investors worried, as the music streamer inches closer to its first public stock offering.
As we move forward in 2018, Bas Grasmayer takes moment to reflect on the leaps and bounds forward which music industry tech has made, and how these advances will shape major industry trends in the coming year.
Several startups have tried to launch crowdfunding concert services in the U.S. and failed to gain traction. But Weeshing, which has already found success in South and Central America and attracted $9 million in funding, has just entered the American market.
Round Hill Music Royalty Partners announced that it has raised $263 million for a second music investment fund. The private equity firm has taken stakes in music copyrights from The Beatles, Rolling Stones, Bruno Mars and others.
Live Nation and its Ticketmaster subsidiary have agreed to pay a reported $110 million for the remaining assets of Songkick, ending a longstanding lawsuit between the two companies. Last year, Warner Music Group acquired the Songkick name and portion of the technology dedicated to concert discovery.
Online music database and vinyl marketplace Discogs has raised $2.5 million. The additional funding comes from former Warner Music Group board member Jörg Mohaupt, who will join the company's board of directors.
AVL Digital Group, the parent company of CD Baby, DiscMakers, Oasis and Show.co has acquired AudioMicro and its AdRev and DashGo divisions. The purchase adds strong b2b capabilities serving record labels and publishers, as well as its strong base of D.I.Y. artists.
LiveXLive Media, Inc. announced that they have closed its acquisition of Slacker Radio, the streaming music and personalized radio subscription service. Focused on U.S. and Canadian markets, Slacker was founded in 2004 by Dennis Mudd, the former CEO of MusicMatch, and Celite Milbrand.
Since Wixen Music Publishing filed its $1.6 billion lawsuit against Spotify, speculation has run rampant as to how this and other court actions would hurt Spotify's nearing IPO. Spotify isn't commenting, but industry analyst Mark Mulligan has taken a look at all we know and come to some interesting and - for Spotify - concerning conclusions.
The recent acquisition of Shazam by Apple for a relatively modest 400 million has left many wondering what the tech giant could want with the music identification service. Given that Apple has had similar infrastructure for some time, it seems the purchase was likely motivated more by interest in Shazam's historical user data.
Spotify confidentially filed its IPO documents with the U.S. Security and Exchange Commission at the end of December. "All indications are that Spotify wants to list in Q1, and timing of the confidential F-1 filing would support such a calendar," reports news site Axios, citing multiple sources.
Berklee College of Music's Panos Panay recently explained to a CNBC panel how “blockchain,” the system behind Bitcoin, has vast revenue potential in the world of music.“The vision behind it is to create an open protocol that dramatically simplifies the way that rights owners are identified across the supply chain of the music industry,” Panay said.
Four years after launching, online music creators hub Splice announced that it has paid out $5 million to artists, as well as, completed a new $35 million funding round to expand the service. One of the samples available from Splice even anchored “Sorry Not Sorry,” the #1 hit for Demi Lovato last summer.
For a music community to develop and thrive, it needs a city to grow in. So what is about iconic cities like London, Chicago, and Nashville that allow a local music culture to thrive, and how is this culture affected by governments and business? Sound Diplomacy seeks to answer these questions.
After recently making headlines for their one-off million dollar album, the Wu-Tang Clan is back in the news after member of the group Robert Diggs (better known by his stage name RZA) came out in opposition against a dog-walking company attempting to file a copyright for the name "Woof-Tang Clan".
For music tech startups, not having a proper licensing strategy roadmap can expedite things, but also cause significant legal trouble down the road. A new service from Crunch Digital aims to make licensing and reporting a little easier for companies getting off the ground.
Manchester based Beatroot has entered administration, the UK equivalent of bankruptcy protection. Founded in 2015, the online platform helped record labels, production companies and publishers prepare music for digital distribution, collecting tracks, metadata and legal rights in a single place.
Jay-Z fronted music streamer TIDAL has just 6 months of operating capital left, according to a new report, and is losing users as well. In January of this year, Sprint poured $200 million into the streamer based on a $600 million valuation.
From Mark Mulligan of MIDiA: Shazam finally found a buyer: Apple. Ever since its affiliate sales revenue model crumbled with the onset of streaming (there’s no business in an affiliate fee on a $0.01 stream), Shazam has been trying to find a new business model. It doubled down on providing tools for TV advertisers but never got enough traction for that to be a true pivot.
Apple is reportedly days away from acquiring music and audio recognition app Shazam for a $400 million. The startup, which had been valued as high as $1 billion, had previously raised $143 million from investors including Kleiner Perkins, DN Capital and IVP, as well as, Sony Music, Universal Music and Access Industries, which owns Warner Music.
In a deal certain to cause concern among labels and music publishers, Spotify, China's Tencent Holdings and its subsidiary Tencent Music today announced joint equity investments that strengthen their bargaining power exponentially.
[UPDATED] Berlin based IDAGIO has raised a $9.5 million Series A round to expand its classical music focused streaming service. Investors Tengelmann Ventures led the round and previous investor b-to-v Partners expanded its position.