The layoffs come at a precarious time. After years of growth in audio, some companies that took a step (or leap) into podcasting are scaling back in the face of worsening economic conditions. In September, CNN laid off some of its podcast employees. Last week, Axios reported that radio giant Audacy is looking at selling off hitmaker Cadence13 for quick cash.
Source: Layoffs at Gimlet and Parcast expose cracks in Spotify’s exclusivity model
Music executives say that a deluge of new music — and the difficulty of influencing TikTok’s algorithm — has made artist development and building an audience harder than ever for new acts. “It’s a bigger and more level playing field, and everything is getting lost,” says Chris Anokute, who co-manages Muni Long. “Everyone’s an artist, but almost nobody’s breaking.”
Source: Too Many Songs, Not Enough Hits: Pop Music Is Struggling to Create New Stars
For members of the music industry, sync licensing’s far-reaching potential benefits are hardly a secret. But besides affording artists considerable upfront compensation and meaningful exposure, placements are spurring renewed fan interest in more catalog tracks than ever. ht. ‘Catalog’ is officially defined as songs that debuted at least 18 months ago, though “Running Up That Hill” debuted almost 40 years ago.
Source: Is Sync the New Radio? ‘Running Up That Hill’ Is the Tip of the Iceberg
The unpredictability of TikTok-spurred viral success has resulted in artists like The Weeknd and Panic! At the Disco seeing older songs take off while their newer material hangs in limbo. It’s easy to imagine that this experience could be nerve-wracking for labels. “Kids don’t care whether somebody’s pushing a single with millions of dollars of marketing,” says Pablo Douzoglou, director of marketing for Beggars Group.
Source: When Old Hits Compete With New Singles, Do Artists Win or Lose?
For an increasing number of people, reading means listening to streamed audio files through a smartphone. The audiobook has a long history,1 of course, but what is new is its commercial impact: For the first time, audiobooks can no longer be seen as a niche market. Now, the audio medium competes with print books and ebooks for the attention of book readers in a large and diverse range of national book markets.
Source: Audiobooks: Every Minute Counts
Once upon a time — that is, up until a few months ago — price was no object when it came to music acquisitions. Bidding wars routinely erupted among Hipgnosis, Universal Music Group, BMG, Concord, Reservoir, and Sony Music Entertainment, with artists cashing checks worth hundreds of millions of dollars. Now, with interest rates hiking, Wall Street assets tanking, and a global energy crisis looming, enthusiasm for frothy music acquisitions is cooling.
Source: As Music Acquisition Cools Down, Rebeat Digital Steps In to Help
It was inevitable, but it’s no less eye-popping: approximately 100,000 fresh tracks are now being uploaded to music streaming platforms every day. That’s according to two of the most influential figures in the modern music business: Universal Music Group CEO and Chairman, Sir Lucian Grainge, plus the outgoing CEO of Warner Music Group, Steve Cooper.
Source: It’s happened: 100,000 tracks are now being uploaded to streaming services like Spotify each day
Apple Music celebrated the milestone of hitting 100 million songs this week — “more music than you can listen to in a lifetime, or several lifetimes”, global head of editorial, Rachel Newman, wrote in the announcement. Yet what is a celebration for Apple may ring alarm bells for many artists, who are finding it increasingly hard to break through in a market that just got even more oversaturated and hyper-fragmented.
Source: As Apple hits 100 million songs, the future of music discovery gets complicated
At George Washington University this fall, 269 students enrolled in a geography class were supposed to have free access to their course textbook via a link on the course’s Blackboard site. But when many clicked on the link, the book was unavailable. The book’s publisher, Wiley, had withdrawn the book, along with more than 1,300 other ebooks, from a large multidisciplinary ebook collection to which the university had a paid subscription.
Source: Publisher blocks access to ebooks; students, faculty scramble
Apple Music celebrated the milestone with a blog post, revealing that over 20,000 singers and songwriters deliver new music to Apple Music every day. Despite the focus on its huge catalog, Apple highlights that human curation remains at the core of its experience. “Now more than ever, we know that investment in human curation will be key in making us the very best at connecting artists and audiences,” says the blog post.
Source: Theirs Is Bigger: Apple Music Boasts Collection of 100MM Songs, Topping Spotify’s 80MM