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In The Know: Weekly Music News Summary October 13, 2017

SoStereo’s weekly music and advertising news round up


Viberate Listed On It’s First Crypto-Currency Exchange:

Viberate, a live music database that allows users to pay with crypto-currency, has been listed on its crypto-currency exchange - and promptly crashed the thing. So now users can buy and sell the Viberate token and use that on the various items on the website.

Warner Signs Licensing Deal With Mixcloud:

This is a big move for Mixcloud, which has served as the destination for DJs to upload mixes with SoundCloud becoming increasingly unfriendly towards anything that might not be remotely official. That being said, it has still not been able to make the leap into mainstream success. It is looking to launch a potential new subscription service and needs the majors on board for something like that. So a new licensing deal with Warner is a major step in the direction to getting that done and moving in line with other services.

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LANDR & Pro Tools announce partnership:

Digital mastering service, LANDR, has teamed up with Pro Tools to offer discounts and a special deal. Pro Tools users will now get half-off LANDR-Pro subscriptions from now until October 31. Get more details here.

Spotify Posts Record Revenues In First Half of 2017, But Still has Losses:

Spotify reportedly posted revenues of 1.9 billion euros ($2.2 billion) in the first half of 2017. However, the company is still recording some significant operating losses, which are estimated were anywhere from 100 million to 200 million euros in the first half of 2017 according to Billboard. The revenue numbers are improvement from 2016, with the first half already 70% of what it made in 2016 and the operating losses lower at this point than what it was in 2016. The losses still pose a problem for Spotify if it is to IPO soon and convince investors that it is worth the investment. The optimist will look at the improved financial outlook, but the losses will still be worth considering. 

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