Loup Ventures predict Apple Music’s 82m subscribers will generate $6.8bn revenue in 2020

Investment firm Loup Ventures published a report detailing Apple Music’s subscriber numbers, market share and revenue for 2020. The report suggests Apple Music’s 82 million paying subscribers equates to $6.8 billion, which makes up around…

Germany’s recorded music revenues increased 4.8% in the first half of 2020 despite COVID-19

Thanks to huge continued growth of music streaming, Germany’s recorded music revenues rose, despite physical media taking a hit during the global pandemic. Coronavirus has negatively impacted a large portion of the recorded music industry…

NetEase Cloud Music saw huge revenue growth – Q2 2020 earnings call

Internet technology company NetEase hint at big numbers from NetEase Cloud Music in their Q2 2020 earnings call. NetEase Cloud Music is one of the big three music streaming service in China, along with Tencent…

Tencent Music sign a partnership with Thailand’s largest media conglomerate GMM Grammy

Chinese entertainment company Tencent sign a deal with Thailand company GMM Grammy to cross-promote each other’s content in their respective countries. Tencent Music’s partnership with GMM Grammy hopes to discover and promote musicians from respective…

Spotify: For the Record takes listeners behind the scenes of the streaming platform

Spotify’s new podcast Spotify: For the Record, takes listeners behind the scenes, with chats from top artists and music streaming industry experts. For two years, Spotify have shared the background in big moments for music,…

Spotify offer 6 months of free Premium to all MTS customers

Spotify’s stategic partnership with Russia’s top teleco Mobile TeleSystems (MTS) offers all customers with 6 months of Premium membership for free. After launching in Russia just one month ago, Spotify are now offering 6 months…

Tencent Music’s Q2 financial results show 47.1m paying music users

Tencent publish their Q2 financial results, showing very impressive subscriber, revenue and profit growth in 2020. Tencent Music Entertainment’s Q2 financial highlights are as follows: Online music paying users grew 51.9% year-over-year to 47.1 million,…

How will Trump’s TikTok & WeChat ban affect the music industry?

WeChat’s parent company Tencent and TikTok have great influence on the music industry around the world. How will a potential US ban change the music streaming landscape? After an executive order was signed last week,…

Google Play Music will stop streaming music in the next 2 months

It’s finally happening: Google Play Music is being shutdown and will stop streaming in the coming months to be completely replaced by YouTube Music before December. It’s been years in the making and finally Google…