Def Jam Records founder Russell Simmons is making a play to help get some of the forefathers of hip-hop paid. Simmons has partnered with Tokau to launch a new non-fungible token (NFT) collection focused on the history of rap and hip-hop. The new NFT will be called “Masterminds of Hip Hop” and the goal is to raise money to give credit, both vocally and financially, to original musicians that helped build the hip-hop industry from the ground up.
Source: Russell Simmons launching NFT collection honoring hip-hop pioneers – Rolling Out
A new study in the scientific journal Frontiers in Human Neuroscience finds that, over the decades, people tend to prefer newness and variety in music. In an analysis of Billboard top hits spanning from 1958 to 2019, researchers determined that the trend holds true not just for individuals over a lifetime, but population-wide over generations.
A coalition of four major labor unions is urging the Federal Trade Commission to block Amazon’s proposed acquisition of MGM. The coalition alleges that Amazon currently engages in anticompetitive practices in subscription VOD and related markets by using its dominance in ecommerce to build SVOD market share and by bundling Prime Video with the Prime program to offer the service “at below market prices.”
According to the Digital Entertainment Group (DEG), domestic spending on subscription streaming rose 21% in the first six months of 2021 to $12.2 billion, and 17% in the second quarter to $6.3 billion. The growth comes despite a tough comparison to the second quarter of 2020, during which most U.S. consumers were tightly quarantined under COVID-19 restrictions, with video streaming usage spiking accordingly.
The major labels had a spectacular streaming quarter, registering 33% growth on Q2 2020 to reach $3.1 billion. Spotify had a less impressive quarter, growing revenues by just 23%. After being the industry’s byword for streaming for so long, Spotify’s dominant role is beginning to lessen.
Like its rivals, Sony Pictures Entertainment is bullish about the long-term prospects of the streaming business. Unlike the others, however, Sony’s management is betting on a strategy that involves selling films to longtime rivals that are spending billions of dollars to bulk up the offerings on their platforms.
Audius – a music streaming platform that runs on the Ethereum blockchain – hit a major milestone on Thursday, as five million people a month now use the platform to stream music, making it one of the largest consumer applications on any blockchain.
