music industry

A global report released Wednesday by the International Confederation of Societies of Authors and Composers (CISAC) predicts that artificial intelligence (AI) will significantly impact the creative industries, with workers in music and audiovisual fields expected to lose nearly 25% of their income...

The value of global music copyright surged to $45.5 billion in 2023, marking an 11% increase from the previous year. This reflects the growing economic strength of music rights, which were valued at $25 billion in 2014. If current trends continue, music copyright could double in value over a decade...

Apple Inc (NASDAQ:AAPL) launched a high-end version of its “100 Best Albums” list — with a hefty price tag. The 208-page coffee table book costs $450. Apple Music produced it in collaboration with luxury print company Assouline. It is now available for preorder, with estimated shipping...

Spotify Technology SA (NYSE:SPOT) expanded its AI Playlist feature to new regions, giving Premium subscribers in the U.S., Canada, Ireland and New Zealand access to a text-based playlist creation tool. Launched in the U.K. and Australia earlier this year, the beta feature is now available to more...

Martyn Ware, co-founder of the synth-pop band Heaven 17, has publicly rejected an offer from Take-Two Interactive Software Inc‘s (NASDAQ:TTWO) Rockstar Games to license the group's hit song “Temptation” in the upcoming Grand Theft Auto 6 (GTA 6). Ware voiced his frustrations on...

The British government is scrutinizing the use of dynamic pricing by ticketing websites following an outcry from Oasis fans who were left unable to afford tickets to the band’s highly anticipated reunion tour. What Happened: the UK's advertising regulator has received 450 complaints about...

The IFPI’s 2024 Global Music Report, released on Thursday, reveals a continued upward trajectory for the global recorded music industry, with revenues increasing by 10.2% in 2023 to reach $28.6 billion. This marks the ninth consecutive year of growth, driven largely by a surge in paid music...

Michael Jackson‘s estate received a green light to finalize a landmark $750 million sale of half of the late pop star’s music catalog to Sony Group Corp.‘s (NYSE:SONY) Sony Music. The catalog, valued at approximately $1.5 billion, includes Jackson's publishing and recorded...

Spotify Technology SA (NYSE:SPOT) has unveiled new statistics highlighting the explosive growth of anime music on its platform. According to the latest figures, reported by Music Business Worldwide, global streams of anime music have skyrocketed by 395% since 2021. Additionally, Spotify now hosts...

Universal Music Group NV‘s (OTC:UMGNF) shares dropped 23% on Thursday following the announcement of disappointing results in its streaming and subscription segments. Subscription Revenue Growth Slows Down Significantly In the second quarter, UMG’s subscription revenue growth slowed to 6...

In Tuesday’s second-quarter earnings call, Spotify Technology SA‘s (NYSE:SPOT) CEO Daniel Ek and interim CFO Ben Kung hinted at the possibility of future price increases, despite not providing a concrete timeline. This comes on the heels of substantial hikes in 2023 and 2024, where the...

Eminem has ended Taylor Swift's impressive 12-week reign. Following the release of his latest record, “The Death of Slim Shady (Coup de Grâce),” the veteran rapper achieved his 11th No. 1 album in the US. This release also marks the biggest week in 2024 for a rap album, according to...

The global music industry has experienced a notable increase in streaming activity during the first half of 2024 According to Luminate's Midyear Report, over 1 trillion streams were achieved at a record pace, reaching this milestone ten days earlier compared to the previous year. See Also: Karol G...

Taylor Swift and TikTok have recently expanded their collaboration following a brief hiatus earlier this year when her music was temporarily unavailable on the platform due to a licensing dispute with Universal Music Group NV (OTC:UMGNF). The new initiative celebrates Swift’s record-breaking...

Sony Group Corp. (NYSE:SONY) is poised to acquire Queen’s music catalog in a groundbreaking deal worth £1 billion (US$1.27 billion). According to Hits‘ Rumor Mill, Sony Music Entertainment will secure Queen's recording and publishing rights. The deal, later confirmed by Variety,...