In The Know: Weekly Music Industry Round-Up August 11, 2017

SoStereo’s weekly music and advertising news round up
Author:
Publish date:
Social count:
17
SoStereo Header

Here’s a recap of important music business news you need to know:

SoundCloud Raises Funds, CEO Steps Aside:

This is just in. According to Techcrunch, today, Friday, August 11, SoundCloud had a decision to make about their future. In negotiating with investors to get the money, CEO Alex Ljung had to step down. He just did and now the company got its funding from Raine Group and Temasek. Ljung will be replaced by former Vimeo CEO Kerry Trainor. Mike Weissman will become COO as co-founder and CTO Eric Wahlforss becomes chief product officer.

Warner Music Group Post Huge Quarterly Earnings:

Who says the music industry is dying? At least the major labels are doing well. Warner Music Group posted its best quarter in 14 years on the back of digital and streaming revenue. Revenue grew 13.1% to $917 million, in large part because of digital, which rose 30.2% from last year to $496 million.

Read more here.

Facebook Launches YouTube Competitor, Facebook Watch:

Facebook Is continuing its emphasis on video with a redesign of its video program that it hopes will make it a better home to watch videos. This will keep users on the site and generate more ad revenue for the social media platform. It will roll out slowly for all users and Watch will slowly customize to each user’s viewing habits.

Read more here.

TIDAL gets its fourth CEO in two years:

Richard Sanders, a long-time Sony Music exec and former president of Kobalt will hope to stir up more interest in the beleaguered streaming service. It will face an uphill battle to remain relevant against Spotify, Apple Music and Amazon.

Read more here.

CloudBounce makes push to secure new partners:

Online mastering service CloundBounce is making a new push to become the online mastering service of choice in its war with LANDR. The new push comes after LANDR’s announcement of a new distribution service, which would put it in competition with some of its clients. CloudBounce has done some promo campaigns recently, giving away free masters and lowered the price of their product to try and get new costumers. 

Related Content