Music Industry News

Counterpoint Sees Big Gains for Music Streaming Subscriptions In 2020 — But Can People Afford It?

(photo: NeONBRAND) Despite the recent music streaming decline and the far-reaching economic impact of the coronavirus (COVID-19) crisis, market-research company Counterpoint is anticipating a sizable uptick in streaming-service subscriptions this year. Counterpoint voiced the sunny prediction in a press release, which also highlighted the stellar commercial performance of music streaming in 2019. The research brand […]

Music Industry News

Spotify Stock Downgraded by Raymond James as Quarantine Listening Shrinks

Investment banking company Raymond James has downgraded its rating of Spotify stock, due in large part to music streaming’s popularity decline amid the COVID-19 coronavirus pandemic. Raymond James analyst Justin Patterson officially lowered the music-streaming giant’s stock (traded under the symbol SPOT) rating from “Strong Buy” to “Market Perform.” In his report, James indicated that […]

Music Industry News

UnCancelled Music Festival Launches to Benefit MusiCares COVID-19 Relief Fund

Photo Credit: UnCancelled Music Festival The UnCancelled Music Festival is launching today to bring a virtual concert to the world. The virtual concert will feature thousands of artists from different genres around the world. Some of the festival’s official partners include Fender, Bandzoogle, Ari’s Take, and Spaceland Presents. The virtual festival will kick-off later today, […]

Music Industry News

Huawei is Taking on Spotify: Big Three Labels, 160MM Users On Board

The main Huawei offices in Shenzhen, China. (photo: Brücke-Osteuropa) Chinese tech and cellular-coverage company Huawei is taking on Spotify in Europe with Huawei Music, a competing music-streaming service that’s backed by the Big Three record labels.  Huawei Music has officially launched in 16 European states (including Germany, France, and the United Kingdom), and Huawei executives […]

Music Industry News

Elton John’s ‘Living Room’ Concert Raises $8 Million for Coronavirus Relief

Photo Credit: Fox Elton John’s “Living Room Concert for America” raised nearly $8 million for coronavirus relief. The concert aired on Sunday and featured acts from Billie Eilish, Alicia Keys, Mariah Carey, and others. Each musician performed from their home in an hour-long event. The Living Room concert aired on Fox and iHeartRadio stations. Viewers […]

Music Industry News

Spotify and Warner Music Announce ‘Renewed Global Licensing Partnership’

Music-streaming giant Spotify and Big Three label Warner Music Group have settled their professional differences (including artist-royalty disagreements and a much-publicized rift in India) and signed an “expanded” international deal. The companies unveiled the new contract today, in a joint press release. Besides being “pleased to announce a renewed global licensing partnership,” Spotify and Warner […]

Music Industry News

Music Streaming is Taking a Backseat to Netflix, But Audio’s Decline is Leveling Off

(photo: YTCount) Expectedly, the coronavirus (COVID-19) crisis and its corresponding social distancing initiatives are affecting the way fans consume music and other entertainment. The viewership uptick enjoyed by prominent video-streaming services like Netflix is holding strong, but music streaming is slowly regaining some of its lost ground. As previously reported, the music industry’s physical sales, […]