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In The Know: Weekly Music News Summary September 22, 2017

SoStereo’s weekly music and advertising news round up
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Rolling Stone Magazine Up For Sale:

Rolling Stone is now up for sale by its owners Wenner Media. Jann Wenner’s company sold 49 percent of the company last year to BandLab Technologies, a digital music company based in Singapore, and is now looking to unload the the next 51 percent. They cite a desire “to best position the brand for future growth” as the reason for the sale. The move comes on the 50 year anniversary of the founding of the magazine that has become a staple in music journalism over the years, but its reputation and bank account took a serious hit after the retraction of a rape story on the UVA campus that led to multiple lawsuits.

Read more here.

RIAA Releases 2017 Mid-Year Report:

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The Recording Industry Association of America (RIAA) has released its 2017 mid-year report on all things related to the health of the music business in America. The main storyline is the growth of streaming and how much it is becoming a factor in terms of revenue. Streaming now accounts for 62% of the revenue generated by the recording business with over 460 billion streams in total. They estimate music will be streamed 1 trillion times in 2017. Another point to note is that labels have invested $4.5 billion into their artists according to the RIAA.

Read more in their report here.

Gigwell Purchases Pieces Of Jamplify:

San Franciso-based Gigwell, a booking management company that works with booking agencies, has announced that it has acquired Jamplify’s Ticket Counts Pro and Live Intel products. This will give them a greater suite of tools to offer their clients, including better data and analytics like prior ticket sales that so many bookers want when looking at artists.

Ed Sheeran Overtakes Drake For Spotify’s Most Streamed Song Ever:

These headlines seem to come almost every month, but they prove a point about the growth of streaming. Ed Sheeran’s “Shape Of You” has overtaken Drake’s “One Dance” as the most streamed song ever on Spotify. It has 1.319 billion streams as of today, September 22, just overtaking Drake. This is not the first time Ed Sheeran has surpassed someone for the crown as most streamed artist ever. Major Lazer once had that in 2015 with “Lean On” and then Ed Sheeran came in and took that title from them. 

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