Marketplace

Although CDs have primarily been replaced by all-you-can-consume music streaming services, something interesting happened in 2021:  CD sales rose for the first time in almost two decades, driving over $580 million in revenue for the music industry. While that pales in comparison to the $12.3 billion earned from streaming, the figure is still significant.

Source: Can CDs Make A Comeback? Reevaluating The CD At 40

Prices and sales of non-fungible tokens (NFTs) have continued to crash as bears completely take over the broader crypto market. Popular collections such as the revered Bored Ape Yacht Club (BAYC) were not spared either, and their floor prices have lost significant value in US dollars. The floor price of Bored Ape has dropped to around $87,000 for the first time in 10 months, and investors are leveraging the opportunity.

Source: Bored Ape Floor Plunges Below $100K as NFT Prices Collapse

In April, social music making platform BandLab revealed that it raised $65 million in a Series B round, with a post-money valuation of $315 million. Today, Singapore-based BandLab has announced a milestone of 50 million users on its platform, up from 30 million users in March 2021.

Source: After raising $65m, music making platform BandLab hits 50m user milestone

The “Spotify machine,” as CEO Daniel Ek deemed his company, will move into new verticals and bring millions of new creators onto the platform. That kind of scale may be good for the company’s bottom line — but the potential for misinformation and other dangerous content to sneak through is not. So, Spotify announced on Monday that it’s wrangled some top experts on speech and technology to advise the company.

Source: Spotify seeks moderation advice as it amps up creator content

Goldman now believes that annual global trade revenues washing into the recorded music industry (labels, distributors, and artists) are going to grow to USD $53.2 billion by 2030. That’s up by $7.5 billionon Goldman’s prior most recent projection ($45.7bn). It’s also more than double the size of worldwide record biz revenues last year ($25.9bn) as counted by the IFPI.

Source: Goldman Sachs: The global music industry is going to be worth even MORE than we thought

If there is one thing that current blockchains lack, it is entertainment ecosystems. The entertainment industry, valued at $2.2 trillion, has the largest combined audience of any sector. And bringing that on the blockchain can open up tremendous opportunities and benefits for the masses. CUBE is one such project bringing entertainment to the blockchain through its P2E metaverse setting.

Source: Bringing Entertainment on the Blockchain: Introducing CUBE 2.0 and its Ecosystem Partners

Meta Platforms Inc.’s Facebook is re-examining its commitment to paying for news, people familiar with the matter said, prompting some news organizations to prepare for a potential revenue shortfall of tens of millions of dollars. The company has paid average annual fees of more than $15 million to the Washington Post, just over $20 million to the New York Times, and more than $10 million to The Wall Street Journal, according to people familiar with the matter.

Source: WSJ News Exclusive | Facebook Rethinks News Deals, and Publishers Stand to Lose Millions in Payments

Irving Azoff has officially launched his previously announced Giant Music and revealed the record label’s first signing and release. The formal rollout of Giant Music came to light in a recent Instagram post from Brooks Roach, the label’s SVP of marketing. “New chapter (officially) begins today!” wrote Roach. “Excited to share our new label with the world + create a home where musicians are treated like people, instead of products. Empower Artists. Embrace Independence. Giant Music.”

Source: Giant Music Officially Launches, Announces First Signing and Release

With ticket sales in the country already sliding, the prospect of losing the kind of family-friendly release that Disney specializes in producing is a terrifying prospect for the hard-hit industry. And French exhibitors aren’t the only ones who stand to lose if “Strange World” starts a trend of Hollywood projects skirting France’s onerous regulations dictating the length of an exclusive theatrical release in favor of premiering on streaming services.

Source: Why Disney’s Decision to Forgo ‘Strange World’ French Theatrical Release Is Causing Panic

Have teenagers taken control of publishing? With some authors notching up a billion views, we look at how TikTok is electrifying the world of books – creating bestsellers, reviving classics and rescuing neglected genres. The BookTok aesthetic is fast and furious, with fans sobbing over plotlines or caressing their books in homemade clips set to music.

Source: ‘After lockdown, things exploded’ – how TikTok triggered a books revolution