Finance

Spotify’s market cap soars by nearly $4bn in wake of landmark Joe Rogan podcast deal

y the end of trading on Tuesday, SPOT’s market cap had climbed to $32.55bn, according to Google Finance data analyzed by MBW. Yesterday (Wednesday May 20), as the potential enormity of the Joe Rogan deal for Spotify’s future became clearer to the markets, the company’s market cap soared again.

Source: Spotify’s market cap value soars by nearly $4bn in wake of landmark Joe Rogan podcast deal

The Future of Live

From a value chain perspective, Lockdown came too early for live streaming; it is under-developed, under-monetised, under-licensed, under-professionalised. Unfortunately, the live-streaming surge is showing all the signs of a goldrush with a lack of clear structure and the first signs of artist backlash.

Source: The Future of Live

Disney’s Kevin Mayer to Become TikTok CEO

Mayer joins TikTok at a pivotal moment for the app, which is owned by Chinese conglomerate ByteDance. Less than three years old, it has been on a quick ascent that has been aided by the coronavirus pandemic. In March, the app surpassed 2 billion worldwide downloads, according to third-party measurement firm Sensor Tower. Mayer also will serve as COO of ByteDance.

Source: Disney’s Kevin Mayer to Become TikTok CEO

Will Warner Music Seize a Window Of Opportunity and Go Public Right Now?

Since early March, when the Warner Music Group decided to delay the initial public offering it had announced the month before, it had seemed as if the company’s plans to go public could be derailed by the COVID-19 pandemic that shut down economies around the world and plunged asset pricing in most capital markets.

Source: Will Warner Music Seize a Window Of Opportunity and Go Public Right Now?

UK songwriters & composers generated close to $1bn in music royalties last year

British collection society PRS for Music collected a record £810.8m (approximately $990m) on behalf of its 145,000 songwriter, composer and music publisher members in 2019, a year-on-year increase of 8.7% or £65m ($79). During the 12 months to December 31, 2019, PRS reports that a record £686m ($834) was processed and paid out, an increase of 13.7% on 2018.

Source: UK songwriters & composers generated close to $1bn in music royalties last year

US video game sales have record quarter as consumers stay at home

New numbers from NPD confirm what we’ve known for a while: The first quarter of 2020 was a very good one for gaming companies. The primary driver is, you guessed it, COVID-19. As stay at home orders have been enacted on the federal and state levels, people are coping with the ongoing daily horror that is life in 2020 by playing video games. Lots and lots of video games.

Source: US video game sales have record quarter as consumers stay at home

Music creation marketplace Splice, which has raised over $100m in funding, acquires audio tech firm​ ​Superpowered​

Music creation marketplace Splice – whose music production platform is used by more than 3 million people – has acquired​tech firm Superpowered​, which powers the audio for thousands of apps that, it claims, have been installed billions of times. Founded by Patrick Vlaskovits and Gabor Szanto, Superpowered has previously raised financing from investors like TechStars Music and counts key clients such as Tencent, Beatport and others.

Source: Music creation marketplace Splice, which has raised over $100m in funding, acquires audio tech firm​ ​Superpowered​

‘Hamilton’ Is the Surest Way for Disney+ to Challenge Netflix at the Event-Streaming Game

Success for Disney has long been defined by its enormous box-office grosses, like the $2.8 billion earned by “Avengers: Endgame.” But now, as CEO Bob Chapek put it last week, its Disney+-Hulu-ESPN+ division is “our company’s top priority and the key to our growth,” where the metrics are less dollars and cents and more subscriber growth and social media clout.

Source: ‘Hamilton’ Is the Surest Way for Disney+ to Challenge Netflix at the Event-Streaming Game

Sony Pictures Profits Climb to $628 Million As Group Earnings Slide

Profits at Sony’s pictures division, which spans film, TV content and channels, climbed from $489 million in the previous financial year to $628 million in the year to March 2020. Revenues at the division climbed from $8.87 billion to $9.32 billion. That stood in contrast to the sharply slowing figures at group level.

Source: Sony Pictures Profits Climb to $628 Million As Group Earnings Slide

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