Ben Affleck Predicted Spotify and Netflix In This 2003 Interview

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While 2003 wasn’t necessarily one of the best years for Ben Affleck after starring in Gigli), Ben Affleck predicted the rise of TV, movie, and music streaming services like Netflix and Spotify. “I think an annual subscription-based system is one that works,” he offered. “It will be movies on-demand but it will be a tiered

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Chinese music streaming platform, Tencent Music Entertainment, announces US IPO

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Chinese music streaming platform, Tencent Music Entertainment, announces US IPOTencent Media2

Spotify‘s strategic partner in China, Tencent Music, has announced it will sell shares publicly on the New York Stock Exchange. The US IPO announcement was confirmed after a regulatory filing on the Hong Kong Stock Exchange. Tencent’s music division is said to be valued around $30 billion, making it as valuable as Spotify which went public in New York in April, 2018. Each company owns stock in one another after a trade swap in December of 2017. Spotify owns 9% of Tencent Music, and Tencent owns 7.5% of Spotify.

Tencent is still keeping numbers close to the vest, telling Variety,

“the terms of the proposed spin-off, including offering size, price range and assured entitlement of Tencent Music securities for shareholders of the company, have not yet been finalized.”

The Chinese multinational investment holding conglomerate, Tencent, is valued at $480 billion on the Hong Kong Stock Exchange, owning a variety of internet businesses, including WeChat, which has over 1 billion users. Tencent Music dominates the Chinese streaming market through QQ Music, KuGou and Kuwo platforms, with about 600 million users. 15 million of those users are paid subscribers.

The IPO will give Tencent Music new funds that it could use to purchase more content for its platforms. The Chinese streaming service has exclusive deals with all major labels, so they can decide which songs rivals can stream. Magnetic Magazine reported that the IPO would bring Western scrutiny to the massive Chinese tech company because the Chinese government has been known to be heavily regulatory on some media in the past. However, with a powerful tech space emerging in China, the Chinese government has proved slow or unwilling to impede progress.

H/T: CNN Money

Photo Credit: Wall Street Journal

Apple Finally Surpasses Spotify in Subscribers in the United States

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The day has finally come! After years of trying and waiting, Apple Music has finally surpassed Spotify as the #1 leading music platform in the U.S. The special news was leaked earlier today from an anonymous source. It was also shared that both platforms have more than 20 million subscribers. It was definitely a tight

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Apple Music Surpasses Spotify In Paid US Subscribers For The First Time: Report

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Apple MusicBack in February the Wall Street Journal learned Apple Music was on pace to surpass Spotify in terms of paid US subscribers. Today, five months later, it has reportedly come to pass. More »

Spotify tests out new, slimmed-down Lite app

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Spotify tests out new, slimmed-down Lite appScreen Shot 2017 09 27 At 9.19.05 AM

Struggling with storage space is a problem that faces all too many mobile device users. In an effort to alleviate some of this digital pain, Spotify has begun testing a slimmed-down “Spotify Lite” application.

At a meager 15 MB, Spotify Lite runs a much leaner operation than its 100 MB counterpart. However, this saved space does not come without a slashing of in-app features. The Lite app will not support Spotify Connect, which allows users to play music via TVs or other remote devices. The app also removes the ability to listen to any song at once and completely eliminates offline listening, allowing only for the shuffling of albums and playlists while online — similar to the options offered in Spotify’s unpaid membership. While the app is only available for testing on Android phones in Brazil and its future is still in question, this slender version of Spotify may be coming our way soon.

Spotify subscribers slam excessive Drake promotions, demand refunds

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If you’ve been on Spotify this past weekend, chances are you might have noticed quite a plethora of Drake ads that put in place across the platform as part of a marketing campaign for his latest album, Scorpion. Spotify reportedly spent the much the weekend placing the hip-hop superstar front and center on the majority

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Spotify Reportedly Offers Refunds For Excessive Drake Promotion

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Drake’s really, really long new double album Scorpion came out last Friday. People were excited, but, most of all, Spotify was excited. The streaming app covered their front page with Drake content. “Have a happy FriDrake,” read one header above a line of playlists that featured Drake’s face as the cover … More »

The Music Modernization Act takes another step towards fair compensation for music curators

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The Music Modernization Act takes another step towards fair compensation for music curatorsJomar 271602 Unsplash

The Music Modernization Act (MMA) has passed unanimously in the Senate Judiciary Committee, taking music creators a step closer to appropriate licensing and royalty rules for the streaming era. It now has to pass a full Senate vote before hitting the president’s desk.

The music copyright overhaul essentially partners Apple Music, Spotify, and publishers under a single licensing agency, streamlining the license management process. Songwriters and accredited artists will be paid out for songs recorded before 1972, while new rights will be granted to music producers and mixers. Older musicians who missed the streaming boom and studio engineers look to benefit here in the form of royalty checks coming their way if passed.

One of the most important facets of the bill is an overall standardization of payment rates between distribution services and rights-holders. It’s about time music law addressed the streaming industry because the current system is still set up for physical music copies.

Although the MMA has received criticism for its lack of consideration towards medium-sized business, most in the industry are in favor, seeing this as a long-awaited, financial organization of the current music landscape. D.I.Y. musicians, and musicians who own their own rights might still have trouble policing ineffective or inefficient licensing practices. More established artists, publishers, studio producers, and labels labels will benefit, giving them more time to focus on creating music and less time worrying about licensing and royalty structures. It’s a step in the right direction on this long trek towards fair compensation for music creators.

H/T: Rolling Stone

Photo Credit: Jomar/Unsplash

Drake shatters Apple Music’s first day streaming record

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Drake shatters Apple Music’s first day streaming recordDrake Scorpion

Drake‘s hotly-anticipated double-sided release, Scorpion, is putting global streaming numbers to bed, racking up 170 million plays on Apple Music in just its first 24 hours: a new all-time record. The unprecedented feat nearly doubled Drake’s More Life numbers on the servicelast year, which garnered 89.9 million plays within the same timeframe. Elsehwere, on SpotifyScorpion was averaging an upwards of 10 million streams per hour, clocking in at 132 million for the day on the platform. Between the two streaming giants, totals are estimated to be over 300 million first day streams.

Many critics have suggested the album’s size—which features a previously unreleased Micheal Jackson vocal cut, as well as Drake corroborating rumors that he fathered a son— has been a considerable factor in its streaming success, postulating that the album’s sheer volume of material is inflating the LP’s charting performance. In any case, a Drizzy album is always bound to set the internet ablaze, and in that regard, Scorpion has undoubtedly delivered.

Stream Drake’s New Album ‘Scorpion’ on Spotify and Apple Music

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While dance music has had some incredible releases today, everyone is talking about Drake’s hit new double album Scorpion. The album is available now on Spotify, Apple Music, and Tidal. The new double album features hit collaborations featuring artists such as PartyNextDoor, Future, Ty Dolla $ign, and Jay-Z. Stream Drake’s 25 song double album below.

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