Music Industry News

Exactuals Acquires Backlash Solutions, Opens NYC Office

SaaS-based payments processing firm Exactuals has acquired Backlash Solutions, a digital music company that specializes in helping industry professionals organize data and more efficiently calculate royalties. As part of the deal, Backlash President and CEO Joe DeCanio and his current employees are in the process of opening a new office in New York City, which […]

Music Industry News

BTS Is Basically a Cash Machine — Big Hit Annual Revenues Hitting $500 Million

BTS frontman RM (photo: Yun_Q) BTS label/management group Big Hit Entertainment just doubled its earnings and substantially increased its 2019 profits. Big Hit Entertainment, the company behind BTS, earned nearly $500 million in 2019, according to a recently delivered corporate briefing. The Seoul-based business’s total revenue doubled from 2018’s level to $495.2 million, with profits […]

Music Industry News

Spotify Reaches 124 Million Premium Subscribers — But Quarterly Losses Top $85 Million

Spotify Offices in Manhattan Spotify closed 2019 with 124 million premium subscribers—a 29 percent increase from 2018’s year-end figure—but this user influx wasn’t enough to prevent the company from sustaining heavy overall losses.  Spotify’s earnings report also indicated that the streaming service’s premium-subscriber base grew 10 percent between the third and fourth quarters, and that […]

Music Industry News

Jennifer Lopez, Shakira Weren’t Paid for Their Super Bowl LIV Halftime Performance

Shakira and Jennifer Lopez during Sunday’s Super Bowl LIV Halftime Show. The NFL has a longstanding tradition of not paying its Superbowl Halftime performers — J.Lo and Shakira were no exception. It’s the biggest stage on the planet, and it doesn’t pay sh—t. According to multiple reports and sources this week, the NFL has refused […]

Music Industry News

Pandora Is Losing Subscribers – 88,000 Left the Service Last Quarter

Photo Credit: Pandora SiriusXM revealed some new information about its subscribers’ growth rate for its satellite service and Pandora. SiriusXM added 355,000 satellite radio subscribers during Q4 2019. That breakdown includes 341,000 self-pay customers and 14,000 promotional subs. That number is slightly up compared to a year ago when it added 346,000 new subscribers. SiriusXM […]