Spotify CEO Daniel Ek has raked in nearly $119 million in a stock sale after recently overseeing the layoff of 1,500 employees — a reduction that Ek himself acknowledged created a “significant” challenge” for the streaming company.
For the second year in a row, vinyl records have outsold CDs, solidifying their resurgence and popularity among music enthusiasts seeking physical media after tiring of the maze of streaming options.
Spotify has announced layoffs impacting 17 percent of its employees, its third layoff of 2023. The Company is desperately chasing profitability, with CEO Daniel Ek explaining, “As we’ve grown, we’ve moved too far away from this core principle of resourcefulness.”
Streaming music giant Spotify has taken action against AI music start-up Boomy, removing tens of thousands of songs from its platform amid growing concerns over streaming fraud and clutter.
Sales of music on physical CDs rose for the first time in two decades in 2021, according to data from the Recording Industry Association of America (RIAA).
The long-awaited coronavirus relief bill, purportedly aimed to help Americans and their small businesses as the Chinese coronavirus continues to grip the nation, would make illegal streaming a felony — a special interest gift to the entertainment industry.
Jay-Z’s music streaming service Tidal is reportedly under investigation in Norway over allegations that the company faked listener numbers. The extent of the faked numbers could allegedly involve hundreds of millions of false plays of albums from major artists like Beyonce.
More than one-third of people who listen to music globally still pirate it, despite the large number of free music streaming services available.
Music streaming service Spotify is reportedly cracking down on users who share their “family” accounts with friends by requesting GPS location checks from users.
Best Buy has finally stopped selling CDs in its stores due to their declining popularity in the digital age.
Jay-Z’s Spotify rival Tidal has been accused of falsifying streaming numbers for the music of prominent artists on the platform, including Beyoncé and Kanye West.
Best Buy will stop selling music CDs, amid the growth of digital music streaming, despite the fact that the reailer used to be the most popular music seller in the United States.
Songwriters and publishers are set to receive increased royalties from Spotify, Apple Music, and other music streaming services, following a ruling.
Digital music streaming services now reportedly account for the majority of music consumption in Britain.
Popular music streaming service Spotify has removed a list of “hate bands” from the platform in response to the Charlottesville white supremacist rally last week.
The popular music streaming service and marketplace “Bandcamp” released a statement condemning the Trump Administration’s transgender military ban on Monday.
Tesla is in talks to produce its own music streaming service, which would be included in Tesla cars, according to a report.
Apple’s new streaming service, Apple Music, has reportedly drawn 11 million trial subscribers one month after its launch.
It doesn’t take a big-shot music executive or a statistician to see that the music industry is in a major period of upheaval.
On the heels of Apple Music’s $9.99 streaming service getting the bodyslam from a 99-pounder named Taylor Swift, Google has just rolled out “Play Music,” which will offer a free, ad-supported streaming music service. Combined with their “All Access” subscription product released in May, Google appears positioned to crush both Spotify and Apple Music.
