Deezer claims $1.4bn valuation with TV Azteca partnership in Mexico
Deezer is doubling down on Latin America courtesy of a partnership with Mexican broadcaster TV Azteca that it says values the music streaming service at €1.3bn ($1.4bn).
That’s based on a $40m investment in Deezer by TV Azteca over “a multi-year period”, and would mean that Deezer has not just maintained its ‘unicorn’ status – the term used for companies worth more than $1bn – but has grown in value by 30% since its $185m funding round in August 2018.
The deal isn’t just about investment. TV Azteca will be promoting Deezer across its television networks in Mexico, with more marketing through other subsidiaries of its parent group Grupo Salinas – for example retail chain Grupo Elektra.
On the TV side, Deezer is taking over a weekly show called Mugo Live on Mexican TV channel Azteca Uno, which has two million viewers, and renaming it ‘Deezer Live’. Deezer will also acquire social music app Mugo, although it is shutting it down and offering users a free Deezer Premium trial, rather than keeping it running.
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Source: Music ally
Israel’s music expansion opportunities, from wellness to AR
Digital music revenue in Israel will reach $40m in 2020, according to Statista, which also predicts an annual growth rate of 6.6% from 2020 to 2024, with streaming revenue to expand by 15.6% in 2020 to $36m. This result would put Israel – the subject of our latest country profile – roughly on a par […]
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Source: Music ally
The Royalty Network debuts Black Empowerment Thru Music scheme
Music publishing company The Royalty Network has launched an initiative to help emerging Black musicians, producers and songwriters build contacts and careers in the music industry. Called Black Empowerment Thru Music, the scheme will include offering free studio time at the company’s Los Angeles facility; financial support for organisations; grant matching; mentoring; webinars; donating instruments to […]
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Source: Music ally
More than 400 brands are boycotting Facebook ads this month
We wrote last month about the launch of a ‘Stop Hate for Profit‘ campaign encouraging brands to pause their advertising on Facebook and Instagram, in protest at Facebook’s policies around hate speech and groups. The boycott kicked off yesterday (1 July) with Reuters reporting that more than 400 brands are taking part, despite “last-ditch” meetings with Facebook executives who […]
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Source: Music ally
Facebook is shutting down its TikTok-inspired app Lasso
“Can Facebook ‘Lasso’ teenagers with its new music app?” was the question in a Music Ally headline back in November 2018, as the social network launched a new app heavily inspired by TikTok – complete with a big (and licensed) library of music clips. Now we have the answer to our question: no it could not. […]
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Source: Music ally
YouTube lands exclusive on archive Elton John concerts
His mammoth Farewell Yellow Brick Road tour might be on hold for now, but Elton John is making a series of archive shows available exclusively on his official YouTube channel. The series premieres on Friday (3 July) with the stated aim of raising $500k in donations for the Elton John AIDS Foundation Covid-19 Emergency Fund. Each […]
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Source: Music ally
Apple Music’s new ‘INDIY’ playlist focuses on DIY artists
Our first response to Apple Music’s new playlist ‘INDIY‘ is wondering how to pronounce it: is it ‘indie’ or ‘indie-why’ or ‘in-D-I-Y’? Whatever: its focus is on independent artists who, for the most part, are self-producing and self-releasing their music. It’s also mining a particular musical landscape: “the dissolution of borders between indie and R&B” […]
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Source: Music ally
Spotify Premium Duo couples’ subscription expands globally
Spotify started testing its Premium Duo subscription plan in March 2019 in five countries: it was a $12.99-a-month Spotify subscription for couples, complete with a ‘Duo Mix’ playlist blending their tastes. It expanded to 14 more countries in Latin America in September last year, but now it’s going more global, launching in 55 markets. The idea is to tempt […]
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Source: Music ally
Twitch was watched for more than 5bn hours in Q2 2020
Twitch is one of the platforms seeing a big spike in usage during the Covid-19 pandemic. A new report claims that in the second quarter of this year, Amazon’s live video service was watched for 5.07bn hours. That’s up from 3.11bn in the first quarter of this year – a 62.7% quarter-on-quarter increase. The report comes […]
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Source: Music ally