Spotify’s ambitious expansion into artist distribution is now being abruptly shut down.
A billion dollars more than it was making four years ago…
Twenty years ago, the idea of free music was so compelling that up to 80m users downloaded Napster and broke the law. The aftershocks are still being felt today.
It was the biggest disaster in the history of the music business — and almost nobody knew. This is the story of the 2008 Universal fire.
The global recorded music business brought in $19.1 billion in revenue in 2018, according the IFPI. By 2030, that number will grow to $45 billion, with streaming expected to represent $27.5 billion of the total, according to a new Goldman Sachs analysis.
The success of Drake, BTS and Ariana Grande have helped the music industry earn its biggest revenues in a decade.
Sales of CDs plummeted by 23% last year, as consumers flocked to streaming services for their music.
The U.S. recorded music market is still growing -- faster than top researchers originally thought.
On Monday (June 3), Apple announced that it was splitting the iTunes app into three distinct programs: Apple Music, Podcasts and TV. But there’s still quite a bit of confusion around how existing music libraries will work, how devices will be synced and the status of the iTunes Store.
Two years ago, Goldman Sachs issued a report which whipped up global excitement over the future of the record business — most particularly, the future of the three major music rights-holders, Universal Music Group, Sony Music Entertainment and Warner Music Group.