China’s Tencent Holdings Ltd. has made a bid to acquire 10%-20% of Universal Music Group, at a company-wide valuation for UMG of €30bn ($33.63bn). By default, this approach from Tencent has become the first market-tested barometer of what the strategic value of a major music company may be today.
New research suggests that most newspaper publishers with successful metered pay model strategies do better with higher “stop rates,” not letting a reader sample too much before they’re asked to pay up. “The publishers that reported more than 6 percent of unique visitors reaching their stop threshold had ‘thriving’ digital subscription businesses.”
It’s unclear whether Patreon offers a full-blown solution or a stopgap remedy for game makers grappling with the current landscape. What it does unequivocally provide is the business infrastructure for creators to implement a fan-subscription model of funding. Communities surrounding artists and their work can often appear diffused online, particularly as forums have given way to broader social media platforms.
Corite enables artists to estimate the value of a song they have created based on their streaming history and future projections, before announcing the amount they want to raise, and setting a percentage of streaming royalties which investors will receive in return.
If completed, Vivendi’s deal with Tencent — which owns three music streaming services in China as well as a 10% stake in Spotify through its Tencent Music division — would reverse the current dynamics between the digital services and the major labels from which they license music.
Although it may sound like calling a speck of dust on Andy Warhol’s “Campbell’s Soup Cans” your own, investors might soon have the opportunity to purchase small fractions of multimillion-dollar artwork. It’s all possible through blockchain, known mostly as the obscure technology underpinning the digital currency Bitcoin.
Chinese digital giant Tencent has entered negotiations with French media group Vivendi to buy a 10% stake in Universal Music Group. Vivendi said the two companies were also exploring other areas of “strategic commercial cooperation” that would help grow UMG, the world’s biggest music company with market share of more than 30% in 2018, through new digital initiatives and territories.
Spotify posted greater-than-expected user growth in the latest quarter as the music-streaming giant improved long-term retention of its listeners and broadened its podcasting business. The company said tens of millions of users are now streaming podcasts on the platform on a monthly basis, with its overall podcast audience growing more than 50% from the previous quarter and nearly doubling since the beginning of the year.
Coinbase and Props Public Benefit Corporation announced today that Props Tokens, the first consumer-facing crypto token qualified by the SEC under Reg A, are now part of the exclusive list of assets available for custody through Coinbase Custody, a platform that stores cryptocurrency for institutional clients.