UPDATED: Spotify's monthly active users grew 26% over the last year to 217 million at the end of 2018, the streamer reported on Monday. Now in 79 countries, a February launch in India added 2 million to its global total. Overall, Spotify posted a smaller first-quarter loss of $158 million vs $189 million for the same period last year.
Spotify (NYSE:SPOT) will share its first quarter 2019 financial results this morning before the market opens. It is the first report to investors since the streamer's big bet on podcasting with the acquisition of Gimlet Media and Anchor.
K-Pop is certainly having a moment as far as its Stateside popularity goes, but will South Korean pop music's recent surge in popularity in the US translate to more than just flash in the pan, and develop into longterm sustainable popularity?
Snapchat's user base is finally growing again, though not dramatically enough for investors. The social channel added 4 million daily active users last quarter, marking its first gain in a year. Snapchat now has 190 million DAUs, up from 186 million at the end of 2018.
In this piece, Jake Udell reflects on the how music companies are increasingly converging to become the same thing as they try to wear a growing number of hats in an effort to remain relevant in a rapidly changing industry.
Last week, we reported that some artists affected by the demise of PledgeMusic became hopeful they would be made whole after receiving emails touting "negotiations the board is having with a potential buyer." It now appears that is was just the latest in a series of empty promises from the crowdfunder.
UPDATE: Spotify stock closed down 4.42% Monday on news that Amazon was close to launching a free ad-supported music service. With the exception of Pandora's radio-like free offering, no other major streamer offers a free music service. Details and analysis here.
In this piece, artist manager Jake Udell analyzes his personal experience of overvaluing his own success, and looks at why too much personal confidence and a failure to rely on others can compromise one's ability to succeed in the music business.
[UPDATED] During his daily Mad Money Lightening Round Thursday, CNBC host Jim Cramer gave a very positive shout out to Spotify. "I think it's only a matter of time before subscriptions take over," said Cramer. "This is a good one." But the former hedge fund manager's stock picking track record is mixed.
It has been more than two months since PledgeMusic suspended all crowdfunding campaigns on the platform, leaving hundreds of artists unpaid. But a PledgeMusic staffer is now telling former clients that the company is in negotiations with a potential buyer.
PledgeMusic has not offered an update to the hundreds of musicians and thousands of fans affected by the crowdfunder's inability to pay creators the funds that fans had pledged. Even the rumor mill is almost silent.
Why Would Anyone Invest In Post-Bankruptcy iHeartMedia? Because 'Radio Motivates Behavior' says Fred Jacobs
At a time when more younger listeners are tuning out in favor of streaming and other forms of media consumption, broadcast radio giant iHeartMedia is hoping to raise $100 million in an IPO. If an aging audience isn't enough to scare off investors. the fact that iHeart is just emerging from a multi-billion dollar bankruptcy may do the trick.
Bob Moz (short for Moczydlowsky) is a fixture in music tech. Now the Managing Director of the Techstars Music startup program, Moz worked at Yahoo Music, as Topspin VP Product & Marketing and Twitter's Head of Music.
As with so much of the music industry, the world of music education is constantly growing and evolving to challenge the status quo. Here we look at seven different organizations that changing who people take on music education for the better.
In this piece, Jon Maples explains how the principles and process behind the unique radio streaming app Gimme Radio have given rise to a successful listening platform, home to a vibrant social community.
UPDATE 2: Tencent Music [TME] stock took a hit Wednesday after the streamer's first post-IPO report to investors included a $127 million quarterly loss. Tencent stock closed Wednesday at $16.66 USD, down $1.91 or 10.29% and fell another 1% in after hours trading.
Austin-based music tech startup Prism has raised a $2.2 million seed round. Prism's software simplifies the booking and management of live music events. Last night, Prism hosted the Annual Music Tech Mashup and is hosting the SXSW Official Live Music Meet-up at Empire Control Room from 4-7PM on Wednesday, March 13th.
Serial tech entrepreneur Benji Rogers is exiting DotBlockchain Media, a company he co-founded and severed as Chief Strategy Officer and board member. Rogers says he will focus on consulting work, two new ventures and his volunteer role helping to turnaround with PledgeMusic, which he also co- founded.
UPDATE: Eventbrite shares fell sharply Friday morning, after the company issued a first-quarter revenue outlook below Wall Street expectations. The independent ticketing company predicted first-quarter revenue of $80 million to $84 million, well short of the $91 million analysts polled had forecast.
[UPDATED] Last week, Christopher Moon, developer and President of NoiseTrade announced his resignation: "I recently wrapped up my tenure running NoiseTrade," he wrote in an email. Moon's departure was the latest in a series of setbacks for the PledgeMusic owned music discovery platform.
International music industry convention Midem has unveiled its jury for this year’s Midemlab music startup competition. Sponsored by Deezer and Recochoku,Midemlab showcases the most promising international music-related startups offering fresh opportunities to the music sector.
After a previous article outlining an initial two key points of failure awaiting unsuspecting Blockchain music entrepreneurs, this articles details the risks of the second pair, helping artists to successfully navigate a revolutionary technology that, despite its pitfalls, has huge potential to benefit artists.
As the gloomy saga of PledgeMusic's financial failings drags on, more artists are revealing that that the now infamous crowdfunding site failed to provide them with payment. Here we look at some specific numbers from a variety of artists.
UK-based 7digital has reached a settlement with Media Saturn’s Juke music streaming service to dissolve their partnership. Under the Agreement, 7digital will be released from all outstanding contracts with the Juke for an immediate payment by Juke of €4,000,000.
In this piece, Gimme Radio's Tyler Lenane outlines why they felt compelled to start another streaming service in an already crowded sector and how Gimme Radio differentiates themselves from other platforms by focusing on serving the passionate fan.
In this piece Iain Baker breaks down the dismal PledgeMusic situation, reflecting on how the current crisis is reminiscent of similar incidents in the history of the music industry, as well as speculating on the somewhat bleak future of the platform.
In this piece, Cherie Hu look at five observable trends in the world of music industry tech startups, and what these inclinations suggest about the future of the music biz and the ways in which tech companies and their investors understand and relate to the music business.