Day: 29 octobre 2020

Grimes teams up with Endel to create an ‘AI Lullaby’

Startup Endel made its name with technology generating AI music to suit people’s moods and activities. Now it has announced a partnership with a high-profile human artist: Grimes. They’ve worked together on an ‘AI Lullaby’ that will be featured in Endel’s iOS and Mac apps until 23 December. Later this year it will also be […]
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Source: Music ally

BPI / Brit Awards donate £54k to Covid-19 Crew Relief Fund

As Covid-19’s second wave sweeps Europe (and the first wave seemingly never ran out of steam in much of the US) we may soon have to revive our regular ‘positive industry stories’ slot, just to keep our heads up. In advance of that, here’s some positive news from the UK, where the BPI and Brit […]
The post BPI / Brit Awards donate £54k to Covid-19 Crew Relief Fund appeared first on Music Ally.
Source: Music ally

Primephonic launches a ‘digital crash course’ in classical music

Classical music streaming service Primephonic’s new initiative, Ludwig, is more than just a marketing wheeze. It’s a 10-week “digital crash course” in classical music, with a weekly podcast; bi-daily email lessons; playlists on key composers and genres; and access to Primephonic’s app and catalogue of music. The latter point hints at the interesting aspect: Ludwig is […]
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Source: Music ally

TikTok strikes back at Triller with patent counter-suit

Remember when Triller sued TikTok for patent infringement in July? Whatever happened to that case? What happened this week is that TikTok struck back with a counter lawsuit. At issue is a June 2017 patent awarded to a children’s apps firm called Mibblio, whose co-founders David Lieberman and Sammy Rubin also co-founded Triller – which says it now owns the […]
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Source: Music ally

New K-Pop group Aespa includes both human and virtual members

K-Pop firm SM Entertainment has unveiled its latest group, and Aespa promises to be a fascinating project. The group will include both human and virtual (avatar) singers, who’ve been introduced to fans one by one to build anticipation. Yesterday saw a teaser interview posted with human member Karina and her virtual version ‘æ-Karina’. SM Entertainment’s founder […]
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Source: Music ally

Former WME exec Marc Geiger to invest in independent venues

Marc Geiger was the music boss at talent agency WME, before leaving earlier this year. Now he’s setting up to invest in a network of independent music venues across the US. Geiger has founded a company called SaveLive and raised $75m to invest in venues and small clubs, taking 51% ownership of them in the […]
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Source: Music ally

Sony Music’s recorded music revenues grew 11% year-on-year

Sony Corporation’s latest quarterly financials came out yesterday, and they revealed a strong quarter for Sony Music. Its Q3 recorded music revenues grew by 11% year-on-year to $1.16bn, including 19% growth in streaming revenues – which reached $742.3m. This, despite the fact that Sony Music’s release schedule is still under pressure from the Covid-19 pandemic. “The release of […]
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Source: Music ally

UK Music publishes its latest industry diversity study

The UK’s umbrella industry body, UK Music, has published its latest report on music industry diversity. Its findings highlight a mixture of progress made, and work still to do, as you’d expect. There have been rises in the proportion of women in the industry (from 45.3% in 2016 to 49.6% in 2020) as well as […]
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Source: Music ally

Spotify can’t just shrug off the latest Joe Rogan controversy

“A few people tweeting that they’re cancelling their Spotify subscriptions does not a firestorm make,” we wrote in our news bulletin yesterday, about the initial responses to Alex Jones guesting on Joe Rogan’s podcast.
Well, later that day the flames began to spread, as major media outlets picked up on Jones’s appearance despite his own podcast having been removed from Spotify.
BuzzFeed also had a scoop: an internal memo from Spotify’s general counsel Horacio Gutierrez giving fellow executives ‘talking points’ to use if they were pressed on the topic.
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Source: Music ally

Spotify Q3 financials reveal it now has 320m users and 144m subscribers

Music streaming service Spotify has announced its latest quarterly financial results. The company ended Q3 with 320 million monthly active users, having added 21 million during the quarter.
Meanwhile, Spotify’s subscriber total is now 144 million, up from 113 million a year ago, and 138 million at the end of Q2.
Spotify’s Q3 revenues grew by 14% year-on-year to €1.98bn, including a 15% rise in subscription revenues to €1.79bn. Despite the Covid-19 pandemic, advertising revenues grew by 9% year-on-year to €185m.
“Notably, some of our more mature regions exhibited accelerating user growth, our advertising business returned to growth, and new market launches in Russia and 12 surrounding markets unlocked significant pent-up demand, adding a helpful accelerant to our results,” said Spotify in its announcement.
There was more detail on the ongoing Covid-19 impact on music streaming. “From a content consumption standpoint, global consumption hours surpassed pre-Covid levels during the quarter, and all regions have fully recovered,” reported Spotify.
“Consumption trends by platform have returned to normal usage, including in-car listening hours which is now above the pre-Covid peak. Usage on connected devices inside the home, which saw a spike during lockdown, also remains above pre-Covid levels.”
Is Spotify profitable yet? An evergreen question with a still-red answer: no, it is not. However, the company did narrow its operating loss from €167m a year ago to €40m in its latest quarter, while its net loss fell from €356m to €101m over the same period.
Other things leaping out at us from the financials announcement:
– Spotify’s Russia and Eastern Europe launches in July were “stronger than expected”.
– The average revenue per user (ARPU) of a Spotify premium user is still falling: down 10% year-on-year to €4.19 in Q3.
– Spotify’s recent price rise for its Family subscription isn’t just an Australia thing: it’s also happened in Belgium, Switzerland, Bolivia, Peru, Ecuador, and Colombia.
– There are now 1.9m podcasts on Spotify, up from 1.5m in Q2. 22% of its monthly active users listened to podcasts last quarter – that’s around 70.4 million people, up from 62.8 million last quarter. Spotify launched 58 new ‘original and exclusive’ podcasts in Q3.
– An interesting nugget: “Despite the challenges stemming from the Covid-19 pandemic, we saw a 13% increase in new music releases compared with Q2 on our platform.”
– 750,000 artists and their teams are now using the Spotify for Artists tools.
– More details on how Spotify’s ‘two-sided marketplace’ of promotional tools for labels and artists is growing. “During Q3, we saw a 76% increase in unique customers relative to Q2, and we retained 74% of customers from Q2.” That’s customers paying to promote their music on Spotify: “We saw demand from both the Major labels and Indies…”
– Spotify expects to end 2020 with 340-345 million monthly active users and 150-154 million premium subscribers.
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Source: Music ally

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