Spotify Could be Valued at $20 Billion and Eventually $100 Billion – Spotify could go public with a valuation of $20 Billion, rise to $55 Billion by 2020 and eventually be worth $100 Billion, study says. The $100 Billion mark would make Spotify one of the most valuable stocks in the world, illustrating the tremendous growth expectations for the red-hot music-tech sector. Music-tech companies are commanding extraordinary valuations and are becoming highly coveted acquisitions by tech giants.
Musical.ly Acquired for $1 Billion – Musical.ly, a popular social networking app among teens and tweens that allows users to upload videos synced to music, was acquired for between $800 million and $1 Billion by Bytedance, a Chinese new aggregator. The acquisition represents another music-tech acquisition with an extraordinary valuation. TuneGO Music Group’s Three Guests, who many of our shareholders met yesterday at the TuneGO Shareholder meeting, have over 1 million followers on Musical.ly.
Kobalt Raises $600 Million to Buy Music Copyrights – Kobalt Capital’s $600 million music copyright fund follows a $350 million fund with the same purpose of buying music copyrights. The music copyright business continues to heat up as the race to obtain valuable music copyright assets is becoming increasingly competitive. Global technology platforms are capable of delivering content to more users than ever and this is driving up the valuations of music catalogues. Our goal at TuneGO is to establish a massive music catalogue that establishes a value in the marketplace.
Spotify Uses BIG DATA to Drive Business Success – Spotify acquired BIG DATA company Echo Nest for $100 million, made 4 additional data-driven acquisitions in 2017 and plans to IPO in 2018 in order to raise capital to support growth and future acquisitions. The future is bright for BIG DATA music-tech companies!
Amazon is 3rd Largest in Music Streaming – Amazon had a simple and brilliant strategy. Give away music streaming for free, when users sign up for Amazon Prime. The result, Amazon is now the 3rd largest streaming subscription service in the world. The strategy illustrates the value music brings to large tech titans such as Amazon. Music is a mechanism to drive user engagement, growth and revenue. It’s an exciting time to be in the music tech industry!
Apple Breaks Through 30 Million Subscribers – Don’t look now, but Apple Music now has over 30 million paying subscribers. Apple Music is the centerpiece of Apple future content plans and the goal of Apple Music is to generate revenue to invest into original content.
BROKEN RECORD: Sony Music Posts Nearly $1 Billion in Quarterly Revenue as Streaming Booms – Music streaming is driving the resurgence of the music industry and will take the industry to record heights. Sony’s overall music operations doubled from a year ago due to the growth of music streaming. Music streaming is the future. TuneGO will soon launch a music streaming distribution service that will provide independent artists with a platform to get their music on the popular streaming services – Stay tuned!
Today’s Awesome Quote! “$1 Billion is the price tag for cool.” – Sean Parker