Business of Music

A global report released Wednesday by the International Confederation of Societies of Authors and Composers (CISAC) predicts that artificial intelligence (AI) will significantly impact the creative industries, with workers in music and audiovisual fields expected to lose nearly 25% of their income...

The value of global music copyright surged to $45.5 billion in 2023, marking an 11% increase from the previous year. This reflects the growing economic strength of music rights, which were valued at $25 billion in 2014. If current trends continue, music copyright could double in value over a decade...

Apple Inc (NASDAQ:AAPL) launched a high-end version of its “100 Best Albums” list — with a hefty price tag. The 208-page coffee table book costs $450. Apple Music produced it in collaboration with luxury print company Assouline. It is now available for preorder, with estimated shipping...

Oasis promoters, Live Nation Entertainment Inc (NYSE:LYV) and SJM, are gearing up to cancel over 50,000 tickets for the band's much-anticipated UK reunion tour, a decision aimed at combating ticket scalping. Reclaiming Tickets For Fans In an announcement made to the BBC, the promoters confirmed...

Lali Espósito, often likened to Argentina's Taylor Swift, has sparked conversation once again with her latest release, “Fanático,” a pop-rock anthem packed with pointed references. Similar to Swift’s public disagreements with Donald Trump, Espósito channels her ongoing feud with...

Spotify Technology SA (NYSE:SPOT) expanded its AI Playlist feature to new regions, giving Premium subscribers in the U.S., Canada, Ireland and New Zealand access to a text-based playlist creation tool. Launched in the U.K. and Australia earlier this year, the beta feature is now available to more...

Martyn Ware, co-founder of the synth-pop band Heaven 17, has publicly rejected an offer from Take-Two Interactive Software Inc‘s (NASDAQ:TTWO) Rockstar Games to license the group's hit song “Temptation” in the upcoming Grand Theft Auto 6 (GTA 6). Ware voiced his frustrations on...

The British government is scrutinizing the use of dynamic pricing by ticketing websites following an outcry from Oasis fans who were left unable to afford tickets to the band’s highly anticipated reunion tour. What Happened: the UK's advertising regulator has received 450 complaints about...

The IFPI’s 2024 Global Music Report, released on Thursday, reveals a continued upward trajectory for the global recorded music industry, with revenues increasing by 10.2% in 2023 to reach $28.6 billion. This marks the ninth consecutive year of growth, driven largely by a surge in paid music...

Michael Jackson‘s estate received a green light to finalize a landmark $750 million sale of half of the late pop star’s music catalog to Sony Group Corp.‘s (NYSE:SONY) Sony Music. The catalog, valued at approximately $1.5 billion, includes Jackson's publishing and recorded...

Actor and content creator David Granados has entered the music scene with a bang, and his debut single, “Sativa,” is creating a buzz by combining cannabis culture with catchy reggaeton beats. The track is not only stirring excitement on social media but is also fueling a new trend of...

Spotify Technology SA (NYSE:SPOT) has unveiled new statistics highlighting the explosive growth of anime music on its platform. According to the latest figures, reported by Music Business Worldwide, global streams of anime music have skyrocketed by 395% since 2021. Additionally, Spotify now hosts...

Taylor Swift released “The Tortured Poets Department” in April, but it keeps returning to the top of the music charts. According to recent data from Luminate (via Forbes), the album sold 84,000 copies in the U.S. last week. That’s a significant increase from the previous week's...

Universal Music Group NV‘s (OTC:UMGNF) shares dropped 23% on Thursday following the announcement of disappointing results in its streaming and subscription segments. Subscription Revenue Growth Slows Down Significantly In the second quarter, UMG’s subscription revenue growth slowed to 6...

In Tuesday’s second-quarter earnings call, Spotify Technology SA‘s (NYSE:SPOT) CEO Daniel Ek and interim CFO Ben Kung hinted at the possibility of future price increases, despite not providing a concrete timeline. This comes on the heels of substantial hikes in 2023 and 2024, where the...