Last year was a very good one for music streaming: Audio streams increased 22.3% year over year, according to analytics firm Luminate, accounting for more than two-thirds of global music revenue. It was also the year when the music industry finally started to address the fact that the streaming model doesn’t benefit artists.
Source: Music streaming royalties are terrible—these companies may have a fix
Audible Inc. has pacted with its sibling Amazon MGM Studios unit to develop TV series based on a slew of podcasts and other original audio-only content. The deal brings together two high-profile content operations under the Amazon umbrella in the hopes of hitting a few home runs by by developing series from podcasts and other Audible-produced originals that have been successful with listeners in the U.S. and elsewhere.
The U.S. recorded music industry grew its revenue by 8% in 2023, reaching an all-time high of $17.1 billion and marking eight consecutive years of growth. However, there’s no question that the streaming boom of the past decade, which produced years of double-digit growth, is leveling off and the industry is reacting with layoffs and talk of a “transformational moment” in the months and years to come.
Over the course of 30 years, Audible’s catalogue has grown to include more than 470,000 audiobooks. In less than a year, Spotify’s catalogue has grown to include more than 200,000 audiobooks, which is already 42.6% of Audible’s offering. As the catalogues of each audiobook platform become less differentiated, Spotify and Audible will increasingly turn to other means of differentiation, from different formats to different pricing.
Source: As Spotify corners audiobooks, Audible eyes functional audio
The bill matters outside the EU because Brussels is an influential tech regulator, as shown by GDPR’s impact on the management of people’s data. The AI act could do the same. “Many other countries will be watching what happens in the EU following the adoption of the AI act. The EU approach will likely only be copied if it is shown to work,” Couneson added.
Source: What will the EU’s proposed act to regulate AI mean for consumers?
The House voted on Wednesday in favor of a bill to require TikTok to sever its connection with parent company ByteDance or face a ban, moving the legislation forward with surprising speed. President Joe Biden has already said that he would support the legislation, but TikTok faces an uncertain fate as the bill heads to the Senate. The bill received bipartisan backing with a 352-65 vote.
Source: The bill that could ban TikTok passes in the House | TechCrunch
This year’s Oscars were as much a celebration of books as they were cinema. Five of the 10 best picture nominees were based on books, and three of those – “Oppenheimer,” “Poor Things” and “The Zone of Interest” – took home the most statues overall. Which is why many of those partying in L.A. on Sunday night boarded planes across the Atlantic days later bound for the London Book Fair, in search of their next Oscar-contending project.
Conversations about the future of artificial intelligence can be found all over SXSW this year — and not all of the festival’s attendees are thrilled with the idea. Specifically, the film and TV fans catching screenings of world premieres including “The Fall Guy” and “Immaculate” made their AI displeasure loud and clear on Tuesday at the Paramount Theatre in Austin.
Source: SXSW Audiences Loudly Boo Festival Videos Touting the Virtues of AI
Music streaming giant Spotify announced today (March 7) that it will be raising subscription prices in France in response to the recent implementation of a new government tax on music streaming services. This decision comes after months of contention between the company and the French government, with Spotify arguing the tax unfairly burdens consumers and hinders its ability to operate in the market.
Source: Spotify to increase subscription prices in France to ‘offset’ new music streaming tax