In March this year Spotify filed for a direct listing (Spotify takes the first step to going public) on the New York Stock Exchange. The Swedish owned company made its stock market debut (4th April 2018) with a market capitalisation of $30bn although that dropped to $27bn after early profit taking. In 2017 Spotify generated $4.99bn in revenue, up from $3.6bn in 2016. Its number of paid subscribers grew by 46% with monthly active users […]
Reliance Industries Limited (RIL) has agreed to buy out music streaming platform Saavn and merge it with its own digital music service JioMusic to form India’s largest music streamer. The $104 million in cash and remainder in stock deal for Saavn will value the combined streaming entity at about US $1 bn with RIL holding roughly three quarters of the merged entity. Reliance plans to invest up to $100 million of which $20 million will be […]
TIDAL announced the launch of the TIDAL app for Android Auto as well as Amazon Fire TV and Fire TV Stick. TIDAL subscribers get a custom Fire TV interface that is designed to provide the best experience for large screen devices. Subscribers with Android Auto compatible vehicles can now access TIDAL, simplifying the use of apps on the go. Amazon Fire TV App On the ‘Home’ screen of Fire TV, users will have access to […]
Revenues from recorded music in the United States increased 16.5% to $8.7 bn in 2017 continuing the growth from the previous year according to the yearly report from the RIAA (Recording Industry Association of America), the trade association that supports and promotes the major music companies. As in 2016 these increases came primarily from growth in paid music subscriptions to services like Spotify, Amazon, Tidal, AppleMusic, Pandora and others, which grew by more than 50%. […]
Deezer has launched a new app on Xbox One and the recently launched Xbox One X to allow gamers to listen to music when games are either on or off. According to market researchers, Nielsen, gamers now spend a little over 7 hours per week playing video games (Nielsen Games 360 U.S. Report 2017) and music fans on average spend 32 hours per week listening to music (Nielsen Music 360 2017 U.S. Report) Xbox One […]
Spotify has launched its streaming service (13th March 2018) in Israel, Romania, South Africa and Vietnam. Users will have access to both Spotify’s free ad-supported and paid-for subscription services. Cecilia Qvist, Global Head of Markets at Spotify, says: ‘We’re really excited to bring Spotify to Israel, Romania, South Africa and Vietnam, connecting their rich music cultures with millions of artists and users across the world.’ The company recently filed papers for a direct listing with […]
Music streaming has seen a five-fold increase in value from 2012-2017 and now has a global turnover of over $5bn annually. The popularity of streaming has increased and we are now have high quality streaming services which equal or in some cases surpass traditional hi-fi music sources for audio quality. […]
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