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Spotify superfans data has been published, demonstrating to labels the importance of targeting and nurturing these special listeners.
The insights, which were provided in a study published on Spotify For Artists, looks at super, moderate, light, programmed, and previously active listeners. But what are the key takeaways?
Spotify [NYSE: SPOT] stock fell 14.26%, closing at $140.38 on Tuesday after the company’s Q2 report to investors.
TikTok has added text-only posts for the first time. This move follows in the footsteps of countless other social media apps before it, in homogenising its users’ experience. By moving away from what garnered its success in the first place in favour of a more ‘one-size-fits-all’ social media platform, TikTok look to reach a wider audience.
Spotify’s monthly active users (MAUs) surged 27% to 551 million, up 36 million, and subscribers grew 17% to 220 million, up 10 million. The increase comes as Spotify followed its competitors to raise subscription prices in 50 countries.
In 2022, the UK live music industry experienced an impressive rebound after the devastating pandemic. The PRS for Music, which licenses live events for songwriter members, provided data showing a surge in spend on recorded music and live music, both surpassing the £2 billion mark. Despite a 26% decline in the volume of live music events from 2019 to 2022, the box office spending increased by 22%, exceeding £2 billion for the first time.
Robert Kyncl, former Chief Business Officer at YouTube and current Chief Executive of Warner Music Group (WMG), has announced a significant licensing agreement between WMG and TikTok. This multi-year, multi-product deal allows TikTok to license the repertoire of Warner Recorded Music and Warner Chappell Music, along with other platforms like CapCut and TikTok’s Commercial Music Library.
Hipgnosis Songs Fund, a UK-listed company that holds music rights for artists like Neil Young and Nirvana, is considering selling off some of its catalog to bridge the gap between its share price and asset value. The CEO, Merck Mercuriadis, believes that the company’s potential and value are not adequately reflected in its current share price. In response to pressure from investors and the decline in share price, the company is exploring options to enhance its value.
Luminate’s mid-year report reveals a significant shift in the streaming landscape of the United States, with English language music experiencing a decline in its share of the Top 10,000 on-demand tracks, both in audio and video formats, during H1 2023. The data indicates a 4.2% decrease compared to the previous year.
A top executive at Universal Music Group (UMG), the world’s largest music rights holder, has called on the US Congress to introduce new laws protecting creators and other rights holders against copyright infringement by AI developers and users.
SoundExchange, the music rights management giant, has added PayPal and Venmo as royalty distribution payment options for creators globally alongside CashApp and Zelle.
