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.
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.
The coronavirus pandemic has led to a video streaming surge and cord cutting acceleration that could affect long-lasting change in consumer viewership behavior. Rob Holmes, vice president of programming at Roku, said consumers were already looking for more value in video products before the virus and that current economic uncertainties and other factors have now heightened that demand.
Thanks to a combination of promotional deals, family plans, telco bundles and international pricing, the average amount paid by Spotify Premium subscribers worldwide fell below $5 per month for the first time in history in Q1; that’s less than half the platform’s typical $9.99-per-month subscription in the US.
According to the company, its PPV platform “will drive a new revenue-sharing model for both artists and LiveXLive via digital ticket sales, fan tipping, digital meet and greets, merchandise sales and sponsorship.” LiveXLive’s first pay-per-view event will be the 11E1even Group-produced virtual concert series Live From Out There, featuring more than 45 live performances starting on Friday, May 15 and continuing for four weeks until June 7.
Atari helped kick off the gaming revolution, and now the brand—which has changed hands many times since the 1970s—aims to help lead the crypto revolution in gaming with its recently-revealed Atari Token. Today, the company revealed the next step in its plan to entrench the Atari Token within the gaming ecosystem, announcing a partnership with Arkane Network to implement the token within its blockchain app development platform.
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.
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.
Spotify announced in a blog post Friday (May 15) that it will be combining its separate data and analytics dashboards, one of which was for artists and managers, the other of which was for labels and distributors, into one place: a revamped Spotify For Artists. The change is expected to roll out in the coming weeks and months, and Spotify said new products will arrive combined in one place going forward.
While there were gains across the board, they weren’t distributed evenly. Twitch — the biggest live-streaming platform — saw the most growth in terms of sheer hours, with its hours watched jumping 50 percent between March and April and a full 101 percent year over year. It’s now up to 1.645 billion hours watched per month.