Spotify Reaches 150 Million Listeners & 65 Million Subs – Spotify has crossed a massive milestone: 160 million active users worldwide. It’s also rapidly approaching 65 million paying subscribers. Spotify is aiming to reach 75 million paying subscribers by year end. The global proliferation of mobile phones as the preferred consumer choice for music consumption is powering the music industry comeback. We are proud to say Spotify was the first digital service provider to recognize our vision and forge a content partnership with TuneGO.
BMI Distributes More Than $1 Billion in Music Royalties – BMI reached the $1 Billion revenue milestone in 2015 and now has surpassed another massive milestone – $1 Billion in music royalties paid to songwriters and music publishers. The value of music publishing continues to grow. According to the National Music Publishers Association the U.S. publishing business generated $2.65 Billion in 2016. This article illustrates the tremendous opportunity ahead for those in the music royalty business.
Vevo Expects 30% Growth Over $500 Million in Revenues 2016 – Vevo, the so-called Hulu for music videos is seeing a surge in audience and as a result the company has locked in nearly $200 million in upfront ad buys this year. Big brands are flocking to Vevo, a joint venture between Universal Music Group, Sony Music Entertainment, Abu Dhabi Media and Google. This article is another sign of the times as investment and revenue continue to pour into music tech.
BROKEN RECORD: British Music Exports Increase 11% to $480 Million – Huge selling albums by Adele, Ed Sheeran and David Bowie have helped British music exports climb to record levels, contributing $5.8 billion to the U.K.’s overseas earnings since 2000. In the past decade alone international revenues have climbed by 72%, with music exports in 2016 up 11% year-over-year to $480 million in 2016. This BROKEN RECORD article further illustrates the tremendous music industry comeback that is upon us.
Today’s Awesome Quote!
“With Spotify, people don’t get it until they try it. Then they tell their friends.” – Daniel Ek